2013 Rhode Island General Laws
Title 6A - Uniform Commercial Code
Chapter 6A-3 - Negotiable Instruments
Section 6A-3-412 - Obligation of issuer of note or cashier's check.
§ 6A-3-412 Obligation of issuer of note or cashier's check. – The issuer of a note or cashier's check or other draft drawn on the drawer is obliged to pay the instrument (i) according to its terms at the time it was issued or, if not issued, at the time it first came into possession of a holder, or (ii) if the issuer signed an incomplete instrument, according to its terms when completed, to the extent stated in §§ 6A-3-115 and 6A-3-407. The obligation is owed to a person entitled to enforce the instrument or to an indorser who paid the instrument under § 6A-3-415.
History of Section.
(P.L. 2000, ch. 238, § 3; P.L. 2000, ch. 421, § 3.)
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