§ 10:3-105 — Issue of instrument

Louisiana § 10:3-105

• Jurisdiction: Louisiana
• Title 10: Commercial Laws

Text

§3-105. Issue of instrument
(a) "Issue" means:
(1) the first delivery of an instrument by the maker or drawer, whether to a holder
or nonholder, for the purpose of giving rights on the instrument to any person; or
(2) if agreed by the payee, the first transmission by the drawer to the payee of an
image of an item and information derived from the item that enables the depositary bank to
collect the item by transferring or presenting under federal law an electronic check.
(b) An unissued instrument, or an unissued incomplete instrument that is completed,
is binding on the maker or drawer, but nonissuance is a defense. An instrument that is
conditionally issued or is issued for a special purpose is binding on the maker or drawer, but
failure of the condition or special purpose to be fulfilled is a defense.
(c) "Issuer" applies to issued and unissued instruments and means a maker or drawer
of an instrument.

Legislative History

Acts 1992, No. 1133, §3, eff. July 1, 1993; Acts 1993, No. 948, §10, eff. Jan. 1, 1994; Acts 2024, No. 773, §1.