North Carolina Administrative Code
Title 04 - COMMERCE
Chapter 03 - BANKING COMMISSION
Subchapter C - BANKS
Section .0800 - MISCELLANEOUS REPORTS AND APPROVALS
Section 03C .0904 - LETTERS OF CREDIT
Universal Citation: 04 NC Admin Code 03C .0904
Current through Register Vol. 39, No. 6, September 16, 2024
The bank shall maintain supporting records on all letters of credit issued and outstanding, except for letters of credit sold for cash, and shall show the following information:
(1) the name of the account party for whom the letter of credit is established;
(2) the name of the beneficiary;
(3) the amount;
(4) the expiration date; and
(5) the terms under which payment is authorized.
Authority
53C-8-1;
Eff. April 21, 1979;
Amended Eff. October 1,
2014;
Pursuant to
G.S.
150B-21.3A, rule is necessary without
substantive public interest Eff. October 3,
2017.
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