{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.9A-107.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.9A-107.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.9A-107.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.9A-107.html"}],"law_id":58690,"edition_id":1,"section_id":58690,"structure_id":15319,"section_number":"8.9A-107","catch_line":"Control of letter-of-credit right","history":"2000, c. 1007.","full_text":"A secured party has control of a letter-of-credit right to the extent of any right to payment or performance by the issuer or any nominated person if the issuer or nominated person has consented to an assignment of proceeds of the letter of credit under subsection (c) of \u00a7 8.5A-114 or otherwise applicable law or practice.","order_by":null,"text":{"0":{"id":215079,"text":"A secured party has control of a letter-of-credit right to the extent of any right to payment or performance by the issuer or any nominated person if the issuer or nominated person has consented to an assignment of proceeds of the letter of credit under subsection (c) of \u00a7 8.5A-114 or otherwise applicable law or practice.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":15319,"edition_id":1,"name":"Short Title, Definitions and General Concepts","identifier":"1","label":"subpart","depth":3,"order_by":1,"parent_id":15318,"metadata":{},"date_created":"2026-06-26 03:53:55","date_modified":"2026-06-26 03:53:55","permalink":{"id":283837,"object_type":"structure","relational_id":15319,"identifier":"1","token":"8.9A\/1\/1","url":"\/8.9A\/1\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":15318,"edition_id":1,"name":"General Provisions","identifier":"1","label":"part","depth":2,"order_by":1,"parent_id":13277,"metadata":{},"date_created":"2026-06-26 03:53:55","date_modified":"2026-06-26 03:53:55","permalink":{"id":283835,"object_type":"structure","relational_id":15318,"identifier":"1","token":"8.9A\/1","url":"\/8.9A\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13277,"edition_id":1,"name":"Commercial Code \u2014 Secured Transactions","identifier":"8.9A","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:44:33","date_modified":"2026-06-26 03:44:33","permalink":{"id":283833,"object_type":"structure","relational_id":13277,"identifier":"8.9A","token":"8.9A","url":"\/8.9A\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":58325,"structure_id":15319,"section_number":"8.9A-101","catch_line":"Short title","url":"\/8.9A-101\/","token":"8.9A\/1\/1\/8.9A-101","metadata":false},{"id":58431,"structure_id":15319,"section_number":"8.9A-102","catch_line":"Definitions and index of definitions","url":"\/8.9A-102\/","token":"8.9A\/1\/1\/8.9A-102","metadata":false},{"id":74460,"structure_id":15319,"section_number":"8.9A-103","catch_line":"Purchase-money security interest; application of payments; burden of establishing","url":"\/8.9A-103\/","token":"8.9A\/1\/1\/8.9A-103","metadata":false},{"id":62491,"structure_id":15319,"section_number":"8.9A-104","catch_line":"Control of deposit account","url":"\/8.9A-104\/","token":"8.9A\/1\/1\/8.9A-104","metadata":false},{"id":84613,"structure_id":15319,"section_number":"8.9A-105","catch_line":"Control of electronic copy of record evidencing chattel paper","url":"\/8.9A-105\/","token":"8.9A\/1\/1\/8.9A-105","metadata":false},{"id":59549,"structure_id":15319,"section_number":"8.9A-105.1","catch_line":"Control of electronic money","url":"\/8.9A-105.1\/","token":"8.9A\/1\/1\/8.9A-105.1","metadata":false},{"id":81668,"structure_id":15319,"section_number":"8.9A-106","catch_line":"Control of investment property","url":"\/8.9A-106\/","token":"8.9A\/1\/1\/8.9A-106","metadata":false},{"id":58690,"structure_id":15319,"section_number":"8.9A-107","catch_line":"Control of letter-of-credit right","url":"\/8.9A-107\/","token":"8.9A\/1\/1\/8.9A-107","metadata":false},{"id":76599,"structure_id":15319,"section_number":"8.9A-107.1","catch_line":"Control of controllable electronic record, controllable account, or controllable payment intangible","url":"\/8.9A-107.1\/","token":"8.9A\/1\/1\/8.9A-107.1","metadata":false},{"id":77801,"structure_id":15319,"section_number":"8.9A-107.2","catch_line":"No requirement to acknowledge or confirm; no duties","url":"\/8.9A-107.2\/","token":"8.9A\/1\/1\/8.9A-107.2","metadata":false},{"id":82128,"structure_id":15319,"section_number":"8.9A-108","catch_line":"Sufficiency of description","url":"\/8.9A-108\/","token":"8.9A\/1\/1\/8.9A-108","metadata":false}],"previous_section":{"id":81668,"structure_id":15319,"section_number":"8.9A-106","catch_line":"Control of investment property","url":"\/8.9A-106\/","token":"8.9A\/1\/1\/8.9A-106","metadata":false},"next_section":{"id":76599,"structure_id":15319,"section_number":"8.9A-107.1","catch_line":"Control of controllable electronic record, controllable account, or controllable payment intangible","url":"\/8.9A-107.1\/","token":"8.9A\/1\/1\/8.9A-107.1","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.9A-107\/","history_text":"

This law was first created in 2000. The record of its establishment is cataloged in chapter 1007<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":[{"id":74128,"section_number":"8.9A-203","catch_line":"Attachment and enforceability of security interest; proceeds, supporting obligations; formal requisites","order_by":null,"url":"\/8.9A-203\/"},{"id":62908,"section_number":"8.9A-207","catch_line":"Rights and duties of secured party having possession or control of collateral","order_by":null,"url":"\/8.9A-207\/"},{"id":64267,"section_number":"8.9A-208","catch_line":"Additional duties of secured party having control of collateral","order_by":null,"url":"\/8.9A-208\/"},{"id":85234,"section_number":"8.9A-314","catch_line":"Perfection by control","order_by":null,"url":"\/8.9A-314\/"},{"id":66602,"section_number":"8.9A-329","catch_line":"Priority of security interests in letter-of-credit right","order_by":null,"url":"\/8.9A-329\/"},{"id":87391,"section_number":"8.9A-601","catch_line":"Rights after default; judicial enforcement, consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes","order_by":null,"url":"\/8.9A-601\/"}],"refers_to":[{"id":72104,"section_number":"8.5A-114","catch_line":"Assignment of proceeds","order_by":null,"url":"\/8.5A-114\/"}],"permalink":{"id":283867,"object_type":"law","relational_id":58690,"identifier":"8.9A-107","token":"8.9A\/1\/1\/8.9A-107","url":"\/8.9A-107\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.9A-107\/","token":"8.9A\/1\/1\/8.9A-107","dublin_core":{"Title":"Control of letter-of-credit right","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.9A-107","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A secured party<\/span> has control of a letter-of-credit right to the extent of any right to payment or performance by the issuer or any nominated person if the issuer or nominated person has consented to an assignment of proceeds of the letter of credit under subsection (c) of \u00a7 8.5A-114<\/a> or otherwise applicable law<\/span> or practice.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCONTROL OF LETTER-OF-CREDIT RIGHT (\u00a7 8.9A-107)\n\nA secured party has control of a letter-of-credit right to the extent of any\nright to payment or performance by the issuer or any nominated person if the\nissuer or nominated person has consented to an assignment of proceeds of the\nletter of credit under subsection (c) of \u00a7 8.5A-114 or otherwise applicable law\nor practice.\n\nHISTORY: 2000, c. 1007.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}