Alaska Statutes 45.03.109 – Payable to bearer or to order

(a) A promise or order is payable to bearer if it

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Terms Used In Alaska Statutes 45.03.109

person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060

(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) 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.

(c) An instrument payable to bearer may become payable to an identified person if it is specially endorsed under Alaska Stat. § 45.03.205(a). An instrument payable to an identified person may become payable to bearer if it is endorsed in blank under Alaska Stat. § 45.03.205(b).

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