Oregon Statutes 73.0109 – Payable to bearer or to order
(1) A promise or order is payable to bearer if it:
Terms Used In Oregon Statutes 73.0109
- Order: means a written instruction to pay money signed by the person giving the instruction. See Oregon Statutes 73.0103
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
- Promise: means a written undertaking to pay money signed by the person undertaking to pay. See Oregon Statutes 73.0103
(a) 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;
(b) Does not state a payee; or
(c) States that it is payable to or to the order of cash or otherwise indicates that it is not payable to an identified person.
(2) 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 order that is payable to order is payable to the identified person.
(3) An instrument payable to bearer may become payable to an identified person if it is specially indorsed pursuant to ORS § 73.0205 (1). An instrument payable to an identified person may become payable to bearer if it is indorsed in blank pursuant to ORS § 73.0205 (2). [1993 c.545 § 12]