Arizona § 47-3415 - Obligation of indorser
Full text of Arizona Arizona Revised Statutes § 47-3415 — Obligation of indorser, with citation guidance and answers to common questions.
§ 47-3415. Obligation of indorser
A. Subject to subsections B, C, D and E of this section and to section 47-3419, subsection D, if an instrument is dishonored, an indorser is obliged to pay the amount due on the instrument according to the terms of the instrument at the time it was indorsed, or if the indorser indorsed an incomplete instrument, according to its terms when completed, to the extent stated in sections 47-3115 and 47-3407. The obligation of the indorser is owed to a person entitled to enforce the instrument or to a subsequent indorser who paid the instrument under this section.
B. If an indorsement states that it is made "without recourse" or otherwise disclaims liability of the indorser, the indorser is not liable under subsection A of this section to pay the instrument.
C. If notice of dishonor of an instrument is required by section 47-3503 and notice of dishonor complying with that section is not given to an indorser, the liability of the indorser under subsection A of this section is discharged.
D. If a draft is accepted by a bank after an indorsement is made, the liability of the indorser under subsection A of this section is discharged.
E. If an indorser of a check is liable under subsection A of this section and the check is not presented for payment, or given to a depositary bank for collection, within thirty days after the day the indorsement was made, the liability of the indorser under subsection A of this section is discharged.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 47-3415
What does Arizona Revised Statutes § 47-3415 cover?
Section 47-3415 ("Obligation of indorser") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 47-3415?
A common citation format is "Arizona Revised Statutes § 47-3415" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 47-3415 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.