Indiana Administrative Code
Title 329 - SOLID WASTE MANAGEMENT DIVISION
Article 10 - SOLID WASTE LAND DISPOSAL FACILITIES
Rule 2 - Definitions
Section 2-105 - "Letter of credit" defined
Universal Citation: 329 IN Admin Code 2-105
Current through September 18, 2024
Authority: IC 13-14-8-7; IC 13-15-2-1; IC 13-19-3-1
Affected: IC 13-30-2; IC 25-31; IC 36-9-30
Sec. 105.
"Letter of credit" means an instrument issued by a bank or other financial institution, known as the issuer, in which the issuer agrees on behalf of its customer, known as the account party, to honor demands for payment to the beneficiary usually upon presentation of the documents specified in the instrument.
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