Cashier's checks or treasurer's checks are orders drawn by the cashier or treasurer of a bank upon the bank itself and are liabilities of the bank. They are payable on demand. A "bank draft" is an order by one bank on another bank to pay a third person; a cashier's check is the bank's order on itself for payment from its own funds. When properly indorsed by the payee, a cashier's check may be cashed by the paying teller, or deposited in another bank. It may be used by the bank when it buys notes, bills or other securities, when it makes loans to outside parties, and when it pays expense bills. In some places it is exchanged for the customer's check in preference to making a certification. Registers are kept of all checks issued, and the amounts issued and paid are sent to the general ledger bookkeeper for his records. A special form of cashier's check may be used in paying dividends to stockholders. A cashier's check is not generally subject to a "stop-order," since the act of issuing it is regarded as an acceptance in advance, and it has the same standing as a certified check.