3-116 - Instruments Payable to Two or More Persons.

NY UCC § 3-116 (2019) (N/A)
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(a) if in the alternative is payable to any one of them and may be negotiated, discharged or enforced by any of them who has possession of it;

(b) if not in the alternative is payable to all of them and may be negotiated, discharged or enforced only by all of them.