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Searching 2023-2024 Session

The Vermont Statutes Online

The Vermont Statutes Online have been updated to include the actions of the 2023 session of the General Assembly.

NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.

Title 9A : Uniform Commercial Code

Article 003 : Commercial Paper

(Cite as: 9A V.S.A. § 3-412)
  • § 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 sections 3—115 and 3—407. The obligation is owed to a person entitled to enforce the instrument or to an indorser who paid the instrument under section 3-415. (Added 1993, No. 158 (Adj. Sess.), § 12, eff. Jan. 1, 1995.)