{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-3-415","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-3-415","heading":"Obligation of Indorser","body":"OBLIGATION OF INDORSER\n\n(a) Subject to subsections (b), (c), (d), and (e) of this\n\nsection and to subsection (d) of Section 3-419 of this title, if an\n\ninstrument is dishonored, an indorser is obliged to pay the amount\n\ndue on the instrument (i) according to the terms of the instrument\n\nat the time it was indorsed, or (ii) if the indorser indorsed an\n\nincomplete instrument, according to its terms when completed, to the\n\nextent stated in Section 3-115 and 3-407 of this title. The\n\nobligation of the indorser is owed to a person entitled to enforce\n\nthe instrument or to a subsequent indorser who paid the instrument\n\nunder this section.\n\n(b) If an indorsement states that it is made \"without recourse\"\n\nor otherwise disclaims liability of the indorser, the indorser is\n\nnot liable under subsection (a) of this section to pay the\n\ninstrument.\n\n(c) If notice of dishonor of an instrument is required by\n\nSection 3-503 of this title and notice of dishonor complying with\n\nthat section is not given to an indorser, the liability of the\n\nindorser under subsection (a) of this section is discharged.\n\n(d) If a draft is accepted by a bank after an indorsement is\n\nmade, the liability of the indorser under subsection (a) of this\n\nsection is discharged.\n\n(e) If an indorser of a check is liable under subsection (a) of\n\nthis section and the check is not presented for payment, or given to\n\na depositary bank for collection, within thirty (30) days after the\n\nday the indorsement was made, the liability of the indorser under\n\nsubsection (a) of this section is discharged.","path":["OK Code","Title 12A"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os12A.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"8223523220cd331f15d915e20781ca7c872d211ce5a07d21e0e782837d9c64af","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-3-414","next":"us-ok/okla.-stat.-tit.-12a-12a-3-416"},"notice":"GroundRules: Original legal text. Not legal advice."}