The Vermont Statutes Online
The Statutes below include the actions of the 2025 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.
(Cite as: 9A V.S.A. § 3-412)
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§ 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 of this title. The obligation is owed to a person entitled to enforce the instrument or to an indorser
who paid the instrument under section 3—415 of this title. (Added 1993, No. 158 (Adj. Sess.), § 12, eff. Jan. 1, 1995.)