70A-3-412 - Obligation of issuer of note or cashier's check. - Utah Statutes

70A-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 paythe instrument according to its terms at the time it was issued or, if not issued, at the time it firstcame into possession of a holder, or if the issuer signed an incomplete instrument, according to itsterms when completed, to the extent stated in Sections 70A-3-115 and 70A-3-407. Theobligation is owed to a person entitled to enforce the instrument or to an indorser who paid theinstrument under Section 70A-3-415.

Repealed and Re-enacted by Chapter 237, 1993 General Session