§ 6A-5-101 Short title
§ 6A-5-102 Definitions
§ 6A-5-103 Scope
§ 6A-5-104 Formal requirements
§ 6A-5-105 Consideration
§ 6A-5-106 Issuance, amendment, cancellation, and duration
§ 6A-5-107 Confirmer, nominated person, and adviser
§ 6A-5-108 Issuer’s rights and obligations
§ 6A-5-109 Fraud and forgery
§ 6A-5-110 Warranties
§ 6A-5-111 Remedies
§ 6A-5-112 Transfer of letter of credit
§ 6A-5-113 Transfer by operation of law
§ 6A-5-114 Assignment of proceeds
§ 6A-5-115 Statute of limitations
§ 6A-5-116 Choice of law and forum
§ 6A-5-117 Subrogation of issuer, applicant, and nominated person
§ 6A-5-118 Security interest of issuer or nominated person
§ 6A-5-119 Transition
§ 6A-5-120 Official comments

Terms Used In Rhode Island General Laws > Chapter 6A-5

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Executor: A male person named in a will to carry out the decedent
  • Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC
  • Fraud: Intentional deception resulting in injury to another.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • 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.
  • person: extends to and includes co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6.
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Statute: A law passed by a legislature.
  • Trustee: A person or institution holding and administering property in trust.
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC