47-3414. Obligation of drawer
A. This section does not apply to cashier's checks or other drafts drawn on the
drawer.
B. If an unaccepted draft is dishonored, the drawer is obliged to pay the draft
according to its terms at the time it was issued or, if not issued, at the time it first
came into possession of a holder, or if the drawer signed an incomplete instrument,
according to its terms when completed, to the extent stated in sections 47-3115 and
47-3407. The obligation is owed to a person entitled to enforce the draft or to an
indorser who paid the draft under section 47-3415.
C. If a draft is accepted by a bank, the drawer is discharged, regardless of when
or by whom acceptance was obtained.
D. If a draft is accepted and the acceptor is not a bank, the obligation of the
drawer to pay the draft if the draft is dishonored by the acceptor is the same as the
obligation of an indorser under section 47-3415, subsections A and C.
E. If a draft states that it is drawn "without recourse" or otherwise disclaims
liability of the drawer to pay the draft, the drawer is not liable under subsection B of
this section to pay the draft if the draft is not a check. A disclaimer of the liability
stated in subsection B of this section is not effective if the draft is a check.
F. If a check is not presented for payment or given to a depositary bank for
collection within thirty days after its date, if the drawee suspends payments after
expiration of the thirty day period without paying the check and, because of the
suspension of payments, if the drawer is deprived of funds maintained with the drawee to
cover payment of the check, the drawer to the extent deprived of funds may discharge its
obligation to pay the check by assigning to the person entitled to enforce the check the
rights of the drawer against the drawee with respect to the funds.
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