1303.52 Obligation of issuer of note or cashier's check - UCC 3-412. - Ohio Statutes

1303.52 Obligation of issuer of note or cashier's check - UCC 3-412.

The issuer of a notice or cashier’s check or other draft drawn on the drawer is obliged to pay the instrument in accordance with either of the following:

(A) 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;

(B) If the issuer signed an incomplete instrument, according to its terms when completed in accordance with sections 1303.11 and 1303.50 of the Revised Code. The obligation is owed to a person entitled to enforce the instrument or to an indorser who paid the instrument under section 1303.55 of the Revised Code.

Effective Date: 08-19-1994