§12A-5-113.

§12A-5-113.
   
   Transfer by Operation of Law.
   
   (a) A successor of a beneficiary may consent to amendments, sign and
   present documents, and receive payment or other items of value in the
   name of the beneficiary without disclosing its status as a successor.
   
   (b) A successor of a beneficiary may consent to amendments, sign and
   present documents, and receive payment or other items of value in its
   own name as the disclosed successor of the beneficiary. Except as
   otherwise provided in subsection (e) of this section, an issuer shall
   recognize a disclosed successor of a beneficiary as beneficiary in
   full substitution for its predecessor upon compliance with the
   requirements for recognition by the issuer of a transfer of drawing
   rights by operation of law under the standard practice referred to in
   subsection (e) of Section 5-108 of this title or, in the absence of
   such a practice, compliance with other reasonable procedures
   sufficient to protect the issuer.
   
   (c) An issuer is not obligated to determine whether a purported
   successor is a successor of a beneficiary or whether the signature of
   a purported successor is genuine or authorized.
   
   (d) Honor of a purported successor's apparently complying presentation
   under subsection (a) or (b) of this section has the consequences
   specified in subsection (i) of Section 5-108 of this title even if the
   purported successor is not the successor of a beneficiary. Documents
   signed in the name of the beneficiary or of a disclosed successor by a
   person who is neither the beneficiary nor the successor of the
   beneficiary are forged documents for the purposes of Section 5-109 of
   this title.
   
   (e) An issuer whose rights of reimbursement are not covered by
   subsection (d) of this section or substantially similar law and any
   confirmer or nominated person may decline to recognize a presentation
   under subsection (b) of this section.
   
   (f) A beneficiary whose name is changed after the issuance of a letter
   of credit has the same rights and obligations as a successor of a
   beneficiary under this section.