North Dakota Code 41-03-09 – (3-109) Payable to bearer or to order
1. A promise or order is payable to bearer if it meets any of the following conditions:
Terms Used In North Dakota Code 41-03-09
- following: when used by way of reference to a chapter or other part of a statute means the next preceding or next following chapter or other part. See North Dakota Code 1-01-49
- Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49
a. 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.
b. Does not state a payee.
c. States that it is payable to or to the order of cash or otherwise indicates that it is not payable to an identified person.
2. 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 person.
3. An instrument payable to bearer may become payable to an identified person if it is specially endorsed as stated in subsection 1 of section 41-03-24. An instrument payable to an identified person may become payable to bearer if it is endorsed in blank as stated in subsection 2 of section 41-03-24.