§ 8.3A-109 Payable to bearer or to order
a. A promise or order is payable to bearer if it: (1) 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; (2) does not state a payee; or (3) states that it is payable to or to the order of cash or otherwise indicates that it is not payable to an identified person.
b. 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.
c. An instrument payable to bearer may become payable to an identified person if it is specially endorsed pursuant to § 8.3A-205 (a). An instrument payable to an identified person may become payable to bearer if it is endorsed in blank pursuant to § 8.3A-205 (b).
History
The record of this law’s original creation isn’t available online. It has been modified 3 times. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. Those modifications are as follows: in 1956, chapter 149; in 1964, chapter 219; in 1992, chapter 693.
Code 1950, §§ 6-360, 6-361; 1956, c. 149; 1964, c. 219, §§ 8.3-110, 8.3-111; 1992, c. 693.