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§ 3-105. Issue of Instrument

Oklahoma Statutes AnnotatedTitle 12A. Commercial Code

Oklahoma Statutes Annotated
Title 12a. Commercial Code (Refs & Annos)
Article 3. Negotiable Instruments (Refs & Annos)
Part 1. Short Title, Form and Interpretation (Refs & Annos)
12A Okl.St.Ann. § 3-105
§ 3-105. Issue of Instrument
Currentness
ISSUE OF INSTRUMENT
(a) “Issue” means 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.
(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.

Credits

Laws 1991, c. 117, § 30, eff. Jan. 1, 1992.
12A Okl. St. Ann. § 3-105, OK ST T. 12A § 3-105
Current with emergency effective legislation through Chapter 257 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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