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

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.