ORS 79.0306 - UCC 9-306

ORS 79.0306
UCC 9-306

(1)

Subject to subsection (3) of this section, 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.

(2)

For purposes of ORS 79.0301 (UCC 9-301) to 79.0342 (UCC 9-342), 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 ORS 75.1160 (Choice of law and forum).

(3)

This section does not apply to a security interest that is perfected only under ORS 79.0308 (UCC 9-308) (4). [2001 c.445 §26]

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Secured Transactions

ORS 79.0306
UCC 9-306

(1)

(2)

(3)

Source

Secured Transactions

ORS 79.0306 UCC 9-306

(1)

(2)

(3)

Source

ORS 79.0306
UCC 9-306