Transition to 1999 Act--General rule

A transaction arising out of or associated with a letter of credit that was issued before July 1, 1999, and the rights, obligations, and interests flowing from that transaction are governed by any statute or other law amended or repealed by this Act as if repeal or amendment had not occurred and may be terminated, completed, consummated, or enforced under that statute or other law. Source: SL 1998, ch 283, §§ 4, 5.