N.Y. Uniform Commercial Code Law § 3-117: Instruments Payable With Words of Description

Section 3--117. Instruments Payable With Words of Description.

An instrument made payable to a named person with the addition of

words describing him

(a) as agent or officer of a specified person is payable to his

principal but the agent or officer may act as if he were the holder;

(b) as any other fiduciary for a specified person or purpose is

payable to the payee and may be negotiated, discharged or enforced by

him;

(c) in any other manner is payable to the payee unconditionally and

the additional words are without effect on subsequent parties.