A state bank shall have the power to issue, advise, and confirm letters of credit authorizing a beneficiary thereof to draw on or demand payment of the state bank or its correspondent banks.
Iowa Code § 524.911
Letters of credit
Known as the Iowa Banking Act
The act spans §§ 524–524 (225 sections).
[C71, 73, 75, 77, 79, 81, §524.911] 2016 Acts, ch 1011, §101
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.