An action to enforce a right or obligation arising under this article must be commenced within 1 year after the expiration date of the relevant letter of credit or 1 year after the claim for relief accrues, whichever occurs later. A claim for relief accrues when the breach occurs, regardless of the aggrieved party’s lack of knowledge of the breach.
NRS 104.5115
Statute of limitations
Known as the Uniform Commercial Code
The act spans §§ 104–104 (489 sections).
(Added to NRS by 1997, 358)
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.