(1) A promise or order is payable to bearer if it:
(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) A promise or order that is not payable to bearer is payable to order if it is payable: 1. To the order of an identified person; or 2. To an identified person or order.
(b) A promise or 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 KRS 355.3-205(1). An instrument payable to an identified person may become payable to bearer if it is indorsed in blank pursuant to KRS 355.3-205(2). Effective: January 1, 1997 History: Repealed and reenacted 1996 Ky. Acts ch. 130, sec. 9, effective January 1, 1997. -- Created 1958 Ky. Acts ch. 77, sec. 3-109, effective July 1, 1960.
Notes of Decisions
Stevenson v. Bank of Am., 359 S.W.3d 466 (Ky. Ct. App. 2011).
“]” The record reflects TBW endorsed the note in blank, transforming it into a bearer paper pursuant to KRS 355.3-109, and that BAC obtained rights to the note and the aecom- *470 panying mortgage in August of 2009.”
Acuff v. Wells Fargo Bank, N.A., 460 S.W.3d 335 (Ky. Ct. App. 2014).
· cites it 2× “KRS 355.3-109. Thus, the Commissioner found that Wells Fargo established it was thé holder of the note as evidence by the attachment of a copy of the note to the Complaint.”
Kentucky Bar Ass'n v. Dixon, 373 S.W.3d 444 (Ky. 2012).
“"[Indorsement ] means a signature, other than that of a signer as maker, drawer, or acceptor, that alone or accompanied by other words is made on an instrument for the purpose of: (a) Negotiating the instrument.” KRS 355.3-204(1). . KRS 355.”
— Ky. Rev. Stat. § 355.3-109(3) — 1 case
Kentucky Bar Ass'n v. Dixon, 373 S.W.3d 444 (Ky. 2012).
“"[Indorsement ] means a signature, other than that of a signer as maker, drawer, or acceptor, that alone or accompanied by other words is made on an instrument for the purpose of: (a) Negotiating the instrument.” KRS 355.3-204(1). . KRS 355.”
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