§ 675.112, Fla. Stat. · Chapter 675. UNIFORM COMMERCIAL CODE: LETTERS OF CREDIT
Transfer of letter of credit.
Text — 2026 Florida Statutes
(1) Except as otherwise provided in s. 675.113, unless a letter of credit provides that it is transferable, the right of a beneficiary to draw or otherwise demand performance under a letter of credit may not be transferred.
(2) Even if a letter of credit provides that it is transferable, the issuer may refuse to recognize or carry out a transfer if:
(a) The transfer would violate applicable law; or
(b) The transferor or transferee has failed to comply with any requirement stated in the letter of credit or any other requirement relating to transfer imposed by the issuer which is within the standard practice referred to in s. 675.108(5) or is otherwise reasonable under the circumstances.
Notes and commentary — not statutory text
History
s. 1, ch. 65-254; s. 617, ch. 97-102; s. 1, ch. 99-137.
Note
Note.—s. 5-112, U.C.C.; supersedes s. 676.07.
Source of truth
- Edition
- 2026 Florida Statutes
- Official file
- https://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0600-0699/0675/0675.html
- Text hash
- sha256 50da4879ee5fc425e66d837213a8d87b5f09c857604ef4a9c70afa1b9929513b
- Composed by
- compose_v2.py 2026-10-04: the Legislature's structured HTML read in document order; verify_v2.py's independent reading agrees character for character
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