- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 3. Negotiable Instruments
- Section 109. Payable to Bearer or to Order.
previous: Section 108
. Payable On Demand or at Definite Time.
next: Section 110
. Identification of Person to Whom Instrument is Payable.
AS 45.03.109. Payable to Bearer or to Order.
- (a) A promise or order is payable to bearer if it
- (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) does not state a payee; or
- (3) states that it is payable to or to the order of cash, or otherwise indicates that it is not payable to an identified
- (b) A promise or order that is not payable to bearer is payable to order if it is payable to the order of an identified
person, or to an identified person or order. A promise or order that is payable to order is payable to the identified
- (c) An instrument payable to bearer may become payable to an identified person if it is specially endorsed under AS 45.03.205
(a). An instrument payable to an identified person may become payable to bearer if it is endorsed in blank under AS 45.03.205
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