The issuer of a note or cashier’s check or other draft drawn on the drawer isobliged to pay the instrument according to itsterms at the time itwas issued or, ifnot issued, at the time itfirst came into possession of a holder, or if the issuer signed an incomplete instrument, according toits termswhen completed, to the extentstated insections 554.3115 and 554.3407. The obligation is owed to a person entitled to enforce the instrument or to an endorser who paid the instrument under section 554.3415.
‹ Prev All Iowa sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.