Title 11, Chapter 3, Section 109
Payable to bearer or to order.
(a) A promise or order is payable to bearer if it:
(1) States that it is payable to bearer or to the order of bearer
or otherwise indicates that the person in possession of the
promise or order is entitled to payment;
(2) Does not state a payee; or
(3) States that it is payable to or to the order of cash or
otherwise indicates that it is not payable to an identified
(b) A promise or order that is not payable to bearer is payable to
order if it is payable to (i) the order of an identified person; or
(ii) an identified person or order. A promise or order that is
payable to order is payable to the identified person.
(c) An instrument payable to bearer may become payable to an identified person if it is specially indorsed pursuant to subsection (a) of Code Section 11-3-205. An instrument payable to an identified person may become payable to bearer if it is indorsed in blank pursuant to subsection (b) of Code Section 11-3-205.