(a) Excepto según dispone la sec. 1232 de este título, a menos que la carta de crédito provea para su cesión, el derecho de un beneficiario a girar o de otra forma exigir el cumplimiento bajo una carta de crédito no podrá ser cedida.
(b) Aun si una carta de crédito establece que puede ser cedida, el emisor podrá rehusar el reconocimiento o llevar a cabo la cesión, si:
(1) La cesión viola cualquier ley aplicable, o
(2) el cedente o el cesionario no han cumplido con cualquier requerimiento establecido en la carta de crédito o cualquier otro requerimiento relacionado con la cesión impuesta por el emisor que esté dentro de la práctica normal establecida en la sec. 1227(e) de este título o que sea razonable bajo las circunstancias.
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