---
title: O.C.G.A. § 11-3-415. Obligation of indorser.
collection: code
id: 11-3-415
cite_as: O.C.G.A. § 11-3-415 (2025)
canonical_url: https://georgiacommons.org/code/11-3-415
md_url: https://georgiacommons.org/code/11-3-415.md
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source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t11-(v9)-2022-pdf.pdf?sfvrsn=b5451bbd_0#page=441
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
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publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
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heading_path: COMMERCIAL CODE / NEGOTIABLE INSTRUMENTS / LIABILITY OF PARTIES
---

# O.C.G.A. § 11-3-415. Obligation of indorser.

(a) Subject to subsections (b), (c), (d), and (e) of this Code section and to subsection (d) of Code Section 11-3-419, if an instrument is dishonored, an indorser is obliged to pay the amount due on the instrument (i) according to the terms of the instrument at the time it was indorsed; or (ii) if the indorser indorsed an incomplete instrument, according to the instrument’s terms when completed to the extent stated in Code Sections 11-3-115 and 11-3-407. The obligation of the indorser is owed to a person entitled to enforce the instrument or to a subsequent indorser who paid the instrument under this Code section.

(b) If an indorsement states that it is made “without recourse” or otherwise disclaims liability of the indorser, the indorser is not liable under subsection (a) of this Code section to pay the instrument.

(c) If notice of dishonor of an instrument is required by Code Section 11-3-503 and notice of dishonor complying with that Code section is not given to an indorser, the liability of the indorser under subsection (a) of this Code section is discharged.

(d) If a draft is accepted by a bank after an indorsement is made, the liability of the indorser under subsection (a) of this Code section is discharged.

(e) If an indorser of a check is liable under subsection (a) of this Code section and the check is not presented for payment, or given to a depositary bank for collection within 30 days after the day the indorsement was made, the liability of the indorser under subsection (a) of this Code section is discharged.

## History

Code 1981, § 11-3-415, enacted by Ga. L. 1996, p. 1306, § 3; Ga. L. 1997, p. 143, § 11.

## Cross References

Endorser’s right to control judgment and execution against principal and prior endorsers, § 10-7-54.

Allowance of setoff against original payee in action by holder or transferee of negotiable instrument received under dishonor, § 13-7-7.

## Law Reviews

For note, “The Law of Evidence in the Uniform Commercial Code,” see 1 Ga. L. Rev. 44 (1966).

For article discussing parol evidence in the law of commercial paper, see 13 Ga. L. Rev. 53 (1978).