California Commercial Code

§ 5102

COM § 5102 Effective Jan 1, 1997Div. 5

Statute text

(a)In this division:

(1)“Adviser” means a person who, at the request of the issuer, a confirmer, or another adviser, notifies or requests another adviser to notify the beneficiary that a letter of credit has been issued, confirmed, or amended.

(2)“Applicant” means a person at whose request or for whose account a letter of credit is issued. The term includes a person who requests an issuer to issue a letter of credit on behalf of another if the person making the request undertakes an obligation to reimburse the issuer.

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Legislative history

Repealed and added by Stats. 1996, Ch. 176, Sec. 7. Effective January 1, 1997.