2006 New York Code - Instruments Payable With Words Of Description.

 
  Section 3--117. Instruments Payable With Words of Description.
    An  instrument  made  payable  to  a named person with the addition of
  words describing him
    (a) as agent or officer of  a  specified  person  is  payable  to  his
  principal but the agent or officer may act as if he were the holder;
    (b)  as  any  other  fiduciary  for  a  specified person or purpose is
  payable to the payee and may be negotiated, discharged  or  enforced  by
  him;
    (c)  in  any  other manner is payable to the payee unconditionally and
  the additional words are without effect on subsequent parties.