---
title: O.C.G.A. § 11-5-112. Transfer of letter of credit.
collection: code
id: 11-5-112
cite_as: O.C.G.A. § 11-5-112 (2025)
canonical_url: https://georgiacommons.org/code/11-5-112
md_url: https://georgiacommons.org/code/11-5-112.md
text_url: https://georgiacommons.org/code/11-5-112/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t11-(v9)-2022-pdf.pdf?sfvrsn=b5451bbd_0#page=589
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
up: https://georgiacommons.org/code/11-5.md
previous: https://georgiacommons.org/code/11-5-111.md
next: https://georgiacommons.org/code/11-5-113.md
index: https://georgiacommons.org/code/index.md
version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: COMMERCIAL CODE / LETTERS OF CREDIT
---

# O.C.G.A. § 11-5-112. Transfer of letter of credit.

(a) Except as otherwise provided in Code Section 11-5-113, unless a letter of credit provides that it is transferable the right of a beneficiary to draw or otherwise demand performance under a letter of credit may not be transferred.

(b) Even if a letter of credit provides that it is transferable, the issuer may refuse to recognize or carry out a transfer if:

(1) The transfer would violate applicable law; or

(2) The transferor or transferee has failed to comply with any requirement stated in the letter of credit or any other requirement relating to transfer imposed by the issuer which is within the standard practice referred to in subsection (e) of Code Section 11-5-108 or is otherwise reasonable under the circumstances.

## History

Code 1981, § 11-5-112, enacted by Ga. L. 2002, p. 995, § 1.