2009 Iowa Code
Title 13 - Commerce
Subtitle 5 - Regulation of Commercial Enterprises
CHAPTER 554 - UNIFORM COMMERCIAL CODE
554.3413 - OBLIGATION OF ACCEPTOR.

        554.3413  OBLIGATION OF ACCEPTOR.
         1.  The acceptor of a draft is obliged to pay the draft (i)
      according to its terms at the time it was accepted, even though the
      acceptance states that the draft is payable "as originally drawn" or
      equivalent terms, (ii) if the acceptance varies the terms of the
      draft, according to the terms of the draft as varied, or (iii) if the
      acceptance is of a draft that is an incomplete instrument, according
      to its terms when completed, to the extent stated in sections
      554.3115 and 554.3407.  The obligation is owed to a person entitled
      to enforce the draft or to the drawer or an endorser who paid the
      draft under section 554.3414 or 554.3415.
         2.  If the certification of a check or other acceptance of a draft
      states the amount certified or accepted, the obligation of the
      acceptor is that amount.  If (i) the certification or acceptance does
      not state an amount, (ii) the amount of the instrument is
      subsequently raised, and (iii) the instrument is then negotiated to a
      holder in due course, the obligation of the acceptor is the amount of
      the instrument at the time it was taken by the holder in due course.
      

         94 Acts, ch 1167, §60, 121, 122