Funds Transfers (UCC Article 4A) 

Hawaii Revised Statutes > Division 2 > Title 27 > Chapter 490 > Article 4A > Part 5 > § 490:5-106 - Issuance, amendment, cancellation, and duration

     (b)  After a letter of credit is issued, rights and obligations of a beneficiary, applicant, confirmer, and issuer are not affected by an amendment or cancellation to which that person has not consented except to the extent the letter of credit provides that it is revocable or that the issuer may amend or cancel the letter of credit without that consent.

     (c)  If there is no stated expiration date or other provision that determines its duration, a letter of credit expires one year after its stated date of issuance or, if none is stated, after the date on which it is issued.

     (d)  A letter of credit that states that it is perpetual expires five years after its stated date of issuance, or if none is stated, after the date on which it is issued.

Previous section	Part 5 Table of Contents	Next section

________________________________________________________________________

Hawaii Laws: Funds Transfers (UCC Article 4A)

Hawaii Revised Statutes Chapter 490 > Article 4A - Funds Transfers

Hawaii Revised Statutes Chapter 490 > Article 4A > Part 1 - Subject Matter and Definitions

Hawaii Revised Statutes Chapter 490 > Article 4A > Part 2 - Issue and Acceptance of Payment Order

Hawaii Revised Statutes Chapter 490 > Article 4A > Part 3 - Execution of Sender's Payment Order by Receiving Bank

Hawaii Revised Statutes Chapter 490 > Article 4A > Part 4 - Payment

Hawaii Revised Statutes Chapter 490 > Article 4A > Part 5 - Miscellaneous Provisions

Comments (0)