Iowa Code § 554.3109
Payable to bearer or to order
Redline — January 1, 2012 → current.View current text →
Current — January 1, 2015
As of January 1, 2012
1. A promise or order is payable to bearer if it:
1. A promise or order is payable to bearer if it:
a. states that it is payable to bearer or to the order of bearer or otherwise indicates that the person in possession of the promise or order is entitled to payment;
a. states that it is payable to bearer or to the order of bearer or otherwise indicates that the person in possession of the promise or order is entitled to payment;
b. does not state a payee; or
b. does not state a payee; or
c. states that it is payable to or to the order of cash or otherwise indicates that it is not payable to an identified person.
c. states that it is payable to or to the order of cash or otherwise indicates that it is not payable to an identified person.
2. A promise or order that is not payable to bearer is payable to order if it is payable (i) to the order of an identified person or (ii) to an identified person or order. A promise or order that is payable to order is payable to the identified person.
2. A promise or order that is not payable to bearer is payable to order if it is payable to the order of an identified person or to an identified person or order. A promise or order that is payable to order is payable to the identified person.
3. An instrument payable to bearer may become payable to an identified person if it is specially endorsed pursuant to section 554.3205, subsection 1. An instrument payable to an identified person may become payable to bearer if it is endorsed in blank pursuant to section 554.3205, subsection 2.
3. An instrument payable to bearer may become payable to an identified person if it is specially endorsed pursuant to section 554.3205, subsection 1. An instrument payable to an identified person may become payable to bearer if it is endorsed in blank pursuant to section 554.3205, subsection 2.
94 Acts, ch 1167, §18, 121, 122
94 Acts, ch 1167, §18, 121, 122; 2013 Acts, ch 30, §261
Referred to in
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.