Advanced Search

§6A-3-105  Issue Of Instrument. –

Published: 2015

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$40 per month.

Uniform Commercial Code


Negotiable Instruments

PART 6A-3-101

General Provisions And Definitions

SECTION 6A-3-105

   § 6A-3-105  Issue of instrument. –

(a) "Issue" means 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.

   (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.

   (c) "Issuer" applies to issued and unissued instruments and

means a maker or drawer of an instrument.

History of Section.

(P.L. 2000, ch. 238, § 3; P.L. 2000, ch. 421, § 3.)