1. An instrument may be antedated or postdated. The date stated determines the time of payment ifthe instrument ispayable at a fixed period after date. Except as provided in section 554.4401, subsection 3, an instrument payable on demand is not payable before the date of the instrument. 2. If an instrument isundated, its date is the date of itsissue or,in the case of an unissued instrument, the date itfirst comes into possession of a holder.
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