N.Y. UCC Law § 3-117
This is the official text of N.Y. UCC Law § 3-117, part of New York’s UCC Law — part of the compiled statutory law of New York, published by the state as "UCC Law." Browse the sections below, each linked to its official government source.
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Instruments Payable With Words of Description
Official statutory text
Section 3--117. Instruments Payable With Words of Description.\n An instrument made payable to a named person with the addition of\nwords describing him\n (a) as agent or officer of a specified person is payable to his\nprincipal but the agent or officer may act as if he were the holder;\n (b) as any other fiduciary for a specified person or purpose is\npayable to the payee and may be negotiated, discharged or enforced by\nhim;\n (c) in any other manner is payable to the payee unconditionally and\nthe additional words are without effect on subsequent parties.\n
Status: in_force · Read it on the official government site
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