554.5115 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 thecause of action accrues, whichever occurs later. A cause of action accrues when the breachoccurs, regardless of the aggrieved party’s lack of knowledge of the breach. [C66, 71, 73, 75, 77, 79, 81, §554.5115]96 Acts, ch 1026, §14, 28 Sat Dec 23 01:57:41 2023 Iowa Code 2024, Section 554.5115 (24, 0)
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