Scope. — Alaska Code § 45.05.103
Alaska Code § 45.05.103 — Scope.. Reproduced from the official Alaska Statutes, with a citation summary, verification link, and related provisions.
§ 45.05.103. Scope.
(a) This chapter applies to letters of credit and to certain rights and obligations arising out of transactions involving letters of credit.
(b) The statement of a rule in this chapter does not by itself require, imply, or negate application of the same or a different rule to a situation not provided for, or to a person not specified, in this chapter.
(c) With the exception of this subsection, (a) and (d) of this section, AS 45.05.102 (a)(9) and (10), 45.05.106(d), and 45.05.114(d), and except to the extent prohibited in AS 45.01.302 and AS 45.05.117 (d), the effect of this chapter may be varied by agreement or by a provision stated or incorporated by reference in an undertaking. A term in an agreement or undertaking generally excusing liability or generally limiting remedies for failure to perform obligations is not sufficient to vary obligations prescribed by this chapter.
(d) Rights and obligations of an issuer to a beneficiary or a nominated person under a letter of credit are independent of the existence, performance, or nonperformance of a contract or arrangement out of which the letter of credit arises or that underlies it, including contracts or arrangements between the issuer and the applicant and between the applicant and the beneficiary.
Source: official Alaska text · Last verified 2026-08-27
At a glance
- Citation: Alaska Statutes § 45.05.103
- Jurisdiction: Alaska
- Code: Alaska Statutes
- Subject: Scope.
- Text: transcribed from the official source (verify below)
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Statute text is transcribed from the official Alaska Statutes. Confirm it against the primary source before relying on it:
Not legal advice. Verify against the official source and consult a licensed Alaska attorney.
Common questions
What is the source of Alaska Statutes § 45.05.103?
The text above is transcribed from the Alaska Statutes, the codified statutes of Alaska. The official publisher link appears under "Verify the text" on this page.
What subject does Alaska Statutes § 45.05.103 address?
It addresses "Scope.". Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.
Is Alaska Statutes § 45.05.103 still in force?
Statutes are amended, repealed, and renumbered every session. Confirm the current version at the official Alaska source before relying on this text.
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