400.5-115. Statute of limitations.
Statute of limitations.
400.5-115. An action to enforce a right or obligation arising underthis article must be commenced within one year after the expiration date ofthe relevant letter of credit or one year after the cause of actionaccrues, whichever occurs later. A cause of action accrues when the breachoccurs, regardless of the aggrieved party's lack of knowledge of thebreach.
(L. 1963 p. 503 § 5-115, A.L. 1997 S.B. 6)*No continuity with § 400.5-115 as repealed by L. 1997 S.B. 6 § A.