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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

11-3-109. Payable to bearer or to order.

Active

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

  1. (a)

    A promise or order is payable to bearer if it:#

    1. (1)

      States that it is payable to bearer or to the order of bearer or otherwise indicates that the person in possession of the promise or order is entitled to payment;#

    2. (2)

      Does not state a payee; or#

    3. (3)

      States that it is payable to or to the order of cash or otherwise indicates that it is not payable to an identified person.#

  2. (b)

    A promise or order that is not payable to bearer is payable to order if it is payable to (i) the order of an identified person; or (ii) an identified person or order. A promise or order that is payable to order is payable to the identified person.#

  3. (c)

    An instrument payable to bearer may become payable to an identified person if it is specially indorsed pursuant to subsection (a) of Code Section 11-3-205. An instrument payable to an identified person may become payable to bearer if it is indorsed in blank pursuant to subsection (b) of Code Section 11-3-205.#

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, § 11-3-109, enacted by Ga. L. 1996, p. 1306, § 3.

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)-2022-pdf.pdf, Volume V9, 2022 edition, page 351; merge action: carried; file SHA-256 ad397fccbf21.