Connecticut General Statutes 42a-5-118a – Applicability
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Public act 96-198* applies to a letter of credit that is issued on or after October 1, 1996. Public act 96-198* does not apply to a transaction, event, obligation or duty arising out of or associated with a letter of credit that was issued before October 1, 1996.
Terms Used In Connecticut General Statutes 42a-5-118a
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.