Cal. COM § 9306
This is the official text of Cal. COM § 9306, part of California’s Commercial Code — california's version of the Uniform Commercial Code, governing sales, negotiable instruments, and secured transactions.
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Official statutory text
(a) Subject to subdivision (c), the local law of the issuer’s jurisdiction or a nominated person’s jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a letter-of-credit right if the issuer’s jurisdiction or nominated person’s jurisdiction is a state.
(b) For purposes of this chapter, an issuer’s jurisdiction or nominated person’s jurisdiction is the jurisdiction whose law governs the liability of the issuer or nominated person with respect to the letter-of-credit right as provided in Section 5116.
(c) This section does not apply to a security interest that is perfected only under subdivision (d) of Section 9308.
(b) For purposes of this chapter, an issuer’s jurisdiction or nominated person’s jurisdiction is the jurisdiction whose law governs the liability of the issuer or nominated person with respect to the letter-of-credit right as provided in Section 5116.
(c) This section does not apply to a security interest that is perfected only under subdivision (d) of Section 9308.
Status: in_force · Read it on the official government site
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