§12A-5-115.

§12A-5-115.
   
   Statute of Limitations.
   
   An action to enforce a right or obligation arising under this article
   must be commenced within one (1) year after the expiration date of the
   relevant letter of credit or one (1) year after the cause of action
   accrues, whichever occurs later. A cause of action accrues when the
   breach occurs, regardless of the aggrieved party's lack of knowledge
   of the breach.