The bank shall maintain supporting records on all letters of credit issued and outstanding, except for letters of credit sold for cash, and shall show the following information:

1. (1) the name of the account party for whom the letter of credit is established;
2. (2) the name of the beneficiary;
3. (3) the amount;
4. (4) the expiration date; and
5. (5) the terms under which payment is authorized.

History Note: Authority 53C-8-1;
Eff. April 21, 1979;
Amended Eff. October 1, 2014;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. October 3, 2017.