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Searching 2019-2020 Session

The Vermont Statutes Online

The statutes were updated in November, 2018, and contain all actions of the
2018 legislative session.

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.)