The 2023 Florida Statutes (including Special Session C)

Title XXXIX
COMMERCIAL RELATIONS

Chapter 679
UNIFORM COMMERCIAL CODE: SECURED TRANSACTIONS

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F.S. 679.1071

679.1071 Control of letter-of-credit right.—A secured party has control of a letter-of-credit right to the extent of any right to payment or performance by the issuer or any nominated person if the issuer or nominated person has consented to an assignment of proceeds of the letter of credit under s. 675.114(3) or otherwise applicable law or practice.

History.—s. 1, ch. 2001-198.

F.S. 679.1071 on Google Scholar

F.S. 679.1071 on Casetext

Amendments to 679.1071

Arrestable Offenses / Crimes under Fla. Stat. 679.1071

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 679.1071.

Annotations, Discussions, Cases:

Cases from cite.case.law:

In J. LATINI N. v. G. J., 334 B.R. 338 (Bankr. D. Mass. 2005)

. . . deposit accounts .... and the secured party has control under § 679.1041, § 679.1051, § 679.1061, or § 679.1071 . . .

In BROWN, v. UMLIC VP, LLC,, 311 B.R. 282 (Bankr. M.D. Fla. 2004)

. . . letter-of-credit rights, and the secured party has control under s. 679.1041, s. 679.1061, s. 679.1061, or s. 679.1071 . . .