LegalFix
Sign In

Section 3109 - Payable to bearer or to order

13 PA Cons Stat § 3109 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

§ 3109. Payable to bearer or to order.

(a) Payable to bearer.--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 person.

(b) Payable to order.--A promise or order that is not payable to bearer is payable to order if it is payable:

(1) to the order of an identified person; or

(2) to an identified person or order. A promise or order that is payable to order is payable to the identified person.

(c) Payable to an identified person.--An instrument payable to bearer may become payable to an identified person if it is specially indorsed pursuant to section 3205(a) (relating to special indorsement; blank indorsement; anomalous indorsement). An instrument payable to an identified person may become payable to bearer if it is indorsed in blank pursuant to section 3205(b).

Cross References. Section 3109 is referred to in section 3103 of this title.

Previous Section
Section 3108 - Payable on demand or at definite time
Next Section
Section 3110 - Identification of person to whom instrument is payable