Obligation of issuer of note or cashier's check
KRS 355.3-412
in effect355.3-412. 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 pay the instrument:
(1) According to its terms at the time it was issued or, if not issued, at the time it first came into possession of a holder; or
(2) If the issuer signed an incomplete instrument, according to its terms when completed, to the extent stated in KRS 355.3-115 and 355.3-407. The obligation is owed to a person entitled to enforce the instrument or to an indorser who paid the instrument under KRS 355.3-415.
Effective: January 1, 1997
History: Repealed and reenacted 1996 Ky. Acts ch. 130, sec. 50, effective January 1, 1997. -- Amended 1964 Ky. Acts ch. 130, sec. 5, effective July 1, 1964. -- Created 1958 Ky. Acts ch. 77, sec. 3-412, effective July 1, 1960.
Source: Kentucky Legislative Research Commission (legislature.ky.gov)URL: https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=33482Fetched: 10/20/2026