KRS 355.3-110: Identification of person to whom instrument is payable.

(1) The person to whom an instrument is initially payable is determined by the intent of

the person, whether or not authorized, signing as, or in the name or behalf of, the

issuer of the instrument. The instrument is payable to the person intended by the

signer even if that person is identified in the instrument by a name or other

identification that is not that of the intended person. If more than one person signs

in the name or behalf of the issuer of an instrument and all the signers do not intend

the same p erson as payee, the instrument is payable to any person intended by one

or more of the signers.

(2) If the signature of the issuer of an instrument is made by automated means, such as

a check-writing machine, the payee of the instrument is determined by th e intent of

the person who supplied the name or identification of the payee, whether or not

authorized to do so.

(3) A person to whom an instrument is payable may be identified in any way, including

by name, identifying number, office, or account number. F or the purpose of

determining the holder of an instrument, the following rules apply:

(a) If an instrument is payable to an account and the account is identified only by

number, the instrument is payable to the person to whom the account is

payable. If an instrument is payable to an account identified by number and by

the name of a person, the instrument is payable to the named person, whether

or not that person is the owner of the account identified by number.

(b) If an instrument is payable to:

1. A trust, an estate, or a person described as trustee or representative of a

trust or estate, the instrument is payable to the trustee, the representative,

or a successor of either, whether or not the beneficiary or estate is also

named;

2. A person described as a gent or similar representative of a named or

identified person, the instrument is payable to the represented person,

the representative, or a successor of the representative;

3. A fund or organization that is not a legal entity, the instrument is

payable to a representative of the members of the fund or organization;

or

4. An office or to a person described as holding an office, the instrument is

payable to the named person, the incumbent of the office, or a successor

to the incumbent.

(4) If an instrument is payable to two (2) or more persons alternatively, it is payable to

any of them and may be negotiated, discharged, or enforced by any or all of them in

possession of the instrument. If an instrument is payable to two (2) or more persons

not alternatively, it is payable to all of them and may be negotiated, discharged, or

enforced only by all of them. If an instrument payable to two (2) or more persons is

ambiguous as to whether it is payable to the persons alternatively, the instrument is

payable to the persons alternatively.