Federal Act
on the Amendment of the Swiss Civil Code
(Part Five: The Code of Obligations)

¹ Where the draw­er of a bill of ex­change has been de­clared in­solv­ent, any claim he holds un­der civil law against the drawee for resti­tu­tion of cov­er or re­im­burse­ment of amounts paid de­volves on the hold­er of the bill.

² Where the draw­er de­clares on the bill of ex­change that he as­signs his claims in re­spect of the cov­er provided, these de­volve on the cur­rent hold­er of the bill.

³ Once the de­clar­a­tion of in­solv­ency has been pub­lished or the as­sign­ment has been no­ti­fied to him, the drawee may make pay­ment only to the duly es­tab­lished hold­er against sur­render of the bill of ex­change.