March 24th, 2016
QUESTION CERTIFIED FROM THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF WEST VIRGINIA
Does “[a] letter of credit that states that it is perpetual expire[] five years after its stated date of issuance, or if none is stated, after the date on which it is issued” as provided by the 1996 version of West Virginia Code § 46-5-106(d), or does such letter remain in effect outside the five-year time period until “terminated” by the Commissioner of the Division of Labor pursuant to West Virginia Code § 21-5-14(g)?
