2002 Minnesota Statutes

  336.5-115 Statute of limitations. 

    An action to enforce a right or obligation arising under 
 this article must be commenced within one year after the 
 expiration date of the relevant letter of credit or one 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. 

    HIST: 1997 c 11 art 1 s 15