Alaska Statutes
Alaska Stat. § 45.03.109 (2026)
Payable to bearer or to order
✓ current as of July 2026
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Sec. 45.03.109. Payable to bearer or to order.
(a) A promise or order is payable to bearer if it
(1) 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;
(2) does not state a payee; or
(3) states that it is payable to or to the order of cash, or otherwise indicates that it is not payable to an identified person.
(b) 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 or order that is payable to order is payable to the identified person.
(c) An instrument payable to bearer may become payable to an identified person if it is specially endorsed under AS 45.03.205(a). An instrument payable to an identified person may become payable to bearer if it is endorsed in blank under AS 45.03.205(b).
(a) A promise or order is payable to bearer if it
(1) 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;
(2) does not state a payee; or
(3) states that it is payable to or to the order of cash, or otherwise indicates that it is not payable to an identified person.
(b) 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 or order that is payable to order is payable to the identified person.
(c) An instrument payable to bearer may become payable to an identified person if it is specially endorsed under AS 45.03.205(a). An instrument payable to an identified person may become payable to bearer if it is endorsed in blank under AS 45.03.205(b).
Notes of Decisions
Cited in 1
case, 1992–1992 · leading case: Nat'l Bank of Alaska v. Univentures 1231, 824 P.2d 1377 (Alaska 1992).
Nat'l Bank of Alaska v. Univentures 1231, 824 P.2d 1377 (Alaska 1992). “Although the warrant states that it “will be deemed paid unless redeemed within two years after the date of issue,” AS 45.03.109 provides that an instrument is payable at a definite time if by its terms it is payable on or before a stated date.”
— Alaska Stat. § 45.03.109(a)(1) — 1 case
Nat'l Bank of Alaska v. Univentures 1231, 824 P.2d 1377 (Alaska 1992). “Although the warrant states that it “will be deemed paid unless redeemed within two years after the date of issue,” AS 45.03.109 provides that an instrument is payable at a definite time if by its terms it is payable on or before a stated date.”
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