Indiana § 26-1-3.1-109 Payable to bearer or to order

Indiana Statutes

§ 26-1-3.1-109 — Payable to bearer or to order

Indiana § 26-1-3.1-109

Title 26COMMERCIAL LAW

Art. 1UNIFORM COMMERCIAL CODE

Ch. 3.1Negotiable Instruments

This text of Indiana § 26-1-3.1-109 (Payable to bearer or to order) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 26-1-3.1-109 (2026).

Text

(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:

(1)to the order of an identified person; or

(2)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 under IC 26-1-3.1-205(a). An instrument payable to an identif

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(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:
(1) to the order of an identified person; or
(2) 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 under IC 26-1-3.1-205(a).
An instrument payable to an identified person may become payable to
bearer if it is endorsed in blank under IC 26-1-3.1-205(b).