The issuer of a note or cashier's check or other draft drawn on the drawer is obliged to pay the instrument: [PL 1993, c. 293, Pt. A, §2 (NEW).] (1). According to its terms at the time it was issued or, if not issued, at the time it first came into possession of a holder; or [PL 1993, c. 293, Pt. A, §2 (NEW).] (2). If the issuer signed an incomplete instrument, according to its terms when completed, to the extent stated in sections 3-1115 and 3-1407. The obligation is owed to a person entitled to enforce the instrument or to an indorser who paid the instrument under section 3-1415. [PL 1993, c. 293, Pt. A, §2 (NEW).]
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