Idaho State Statutes - Idaho Attorney Directory

LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS IN
LETTER OF CREDIT RIGHTS. (a) Subject to subsection (c) 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.
(b) For purposes of this part, 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 section 28-5-116.
(c) This section does not apply to a security interest that is perfected
only under section 28-9-308(d).

Click here to visit the Official Idaho State Statutes