§12A-3-201.

§12A-3-201.
   
                                NEGOTIATION
                                      
   (a) "Negotiation" means a transfer of possession, whether voluntary or
   involuntary, of an instrument by a person other than the issuer to a
   person who thereby becomes its holder.
   
   (b) Except for negotiation by a remitter, if an instrument is payable
   to an identified person, negotiation requires transfer of possession
   of the instrument and its indorsement by the holder. If an instrument
   is payable to bearer, it may be negotiated by transfer of possession
   alone.