# Commercial Law (GCL)

## Title 5. Letters of Credit

### Subtitle 1

#### Section 5-115

An action to enforce a right or obligation arising under this article must be commenced within 1 year after the expiration date of the relevant letter of credit or 1 year after the cause of action accrues, whichever occurs later. A cause of action accrues when the breach occurs, regardless of the aggrieved party's lack of knowledge of the breach.

---

Md. Code Ann., Com. Law (as displayed at mgaleg.maryland.gov, October 16, 2026)