10 IAC 1.5-4-10 - Owner of cashier's checks

Authority: IC 32-34-1-52

Affected: IC 32-34-1

Sec. 10.

(a) The owner of a cashier's check is presumed to be the payee unless the remitter has the cashier's check in his or her possession.

(b) A payee is presumed to have received payment for a cashier's check or other instrument, and the payee must establish that the check was not cashed and that the owner is not, in fact, a holder in due course.

(c) It is the responsibility of the payee to disburse any funds or property in accordance with any existing contract or agreement.

Notes

10 IAC 1.5-4-10

Office of Attorney General for the State; 10 IAC 1.5-4-10; filed Jul 1, 1997, 4:15 p.m.: 20 IR 3003; readopted filed Aug 14, 2003, 1:15 p.m.: 27 IR 946; readopted filed Oct 6, 2009, 9:03 a.m.: 20091104-IR-010090575RFA Readopted filed 10/26/2015, 1:48 p.m.: 20151125-IR-010150149RFA Readopted filed 11/10/2021, 4:13 p.m.: 20211208-IR-010210426RFA