Section 3--805. Instruments Not Payable to Order or to Bearer. This Article applies to any instrument whose terms do not preclude transfer and which is otherwise negotiable within this Article but which is not payable to order or to bearer, except that there can be no holder in due course of such an instrument.
Instruments Not Payable to Order or to Bearer
N.Y. Uniform Commercial Code Law § 3-805, under Miscellaneous.
N.Y. Uniform Commercial Code Law § 3-805