technical correction; statute of limitations

Summary

The bill amends the statute of limitations for actions arising under the specified article chapter, requiring a claim be filed within one year of either the letter of credit’s expiration date or the breach, whichever is later. It defines that a cause of action accrues at the moment of breach, even if the injured party is unaware. This clarification aims to provide certainty on timing for legal actions.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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