                                 CODE OF VIRGINIA

APPLICABILITY (§ 8.5A-118)

This title applies to a letter of credit that is issued on or after January 1,
1998. This title does not apply to a transaction, event, obligation, or duty
arising out of or associated with a letter of credit that was issued before
January 1, 1998. A transaction arising out of or associated with a letter of
credit that was issued before January 1, 1998, and the rights, obligations, and
interests flowing from that transaction are governed by Title 8.5 as it was
effective on December 31, 1997, as if repeal or amendment had not occurred and
may be terminated, completed, consummated, or enforced under that statute.

HISTORY: 1997, c. 343.