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Official Code of Georgia Annotated

Title 11. COMMERCIAL CODE · Chapter 3. · Article 3. NEGOTIABLE INSTRUMENTS · Part 1. GENERAL PROVISIONS AND DEFINITIONS

11-3-105. Issue of instrument.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

  1. (a)

    “Issue” means:#

    1. (1)

      The first delivery of an instrument by the maker or drawer, whether to a holder or nonholder, for the purpose of giving rights on the instrument to any person; or#

    2. (2)

      If agreed by the payee, the first transmission by the drawer to the payee of an image of an item and information derived from the item that enables the depositary bank to collect the item by transferring or presenting under federal law an electronic check.#

  2. (b)

    An unissued instrument, or an unissued incomplete instrument that is completed, is binding on the maker or drawer, but nonissuance is a defense. An instrument that is conditionally issued or is issued for a special purpose is binding on the maker or drawer, but failure of the condition or special purpose to be fulfilled is a defense.#

  3. (c)

    “Issuer” applies to issued and unissued instruments and means a maker or drawer of an instrument.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 11-3-105, enacted by Ga. L. 1996, p. 1306, § 3; Ga. L. 2024, p. 817, § 5-17/HB 1240, effective July 1, 2024.

Amendments

The 2024 amendment, effective July 1, 2024, in subsection (a), added the paragraph (a)(1) designation and added paragraph (a)(2).

Editor's notes

Ga. L. 2024, p. 817, § 1-1/HB 1240, not codified by the General Assembly, provides: “This Act shall be known and may be cited as the ‘Uniform Commercial Code Modernization Act of 2024.’” Ga. L. 2024, p. 817, § 1-2/HB 1240, not codified by the General Assembly, provides: “Nothing in this Act shall be construed to support, endorse, create, or implement a national digital currency.”

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t11-(v9)-pdf.pdf, Volume V9, 2022 edition, 2025 supplement, pages 36 to 37; merge action: replaced; file SHA-256 df9393c4ba3b.