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§ 3-109. Payable to Bearer or to Order

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. § 3-109
§ 3-109. Payable to Bearer or to Order
Currentness
PAYABLE TO BEARER OR TO ORDER
(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 (i) to the order of an identified person or (ii) 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 indorsed pursuant to subsection (a) of Section 3-205 of this title. An instrument payable to an identified person may become payable to bearer if it is indorsed in blank pursuant to subsection (b) of Section 3-205 of this title.

Credits

Laws 1991, c. 117, § 34, eff. Jan. 1, 1992.
12A Okl. St. Ann. § 3-109, OK ST T. 12A § 3-109
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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