[Previous] [Next]

§12A-3-205.


§12A-3-205.
   
       SPECIAL INDORSEMENT; BLANK INDORSEMENT; ANOMALOUS INDORSEMENT
                                      
   (a) If an indorsement is made by the holder of an instrument, whether
   payable to an identified person or payable to bearer, and the
   indorsement identifies a person to whom it makes the instrument
   payable, it is a "special indorsement". When specially indorsed, an
   instrument becomes payable to the identified person and may be
   negotiated only by the indorsement of that person. The principles
   stated in Section 3-110 of this title apply to special indorsements.
   
   (b) If an indorsement is made by the holder of an instrument and it is
   not a special indorsement, it is a "blank indorsement". When indorsed
   in blank, an instrument becomes payable to bearer and may be
   negotiated by transfer of possession alone until specially indorsed.
   
   (c) The holder may convert a blank indorsement that consists only of a
   signature into a special indorsement by writing, above the signature
   of the indorser, words identifying the person to whom the instrument
   is made payable.
   
   (d) "Anomalous indorsement" means an indorsement made by a person who
   is not the holder of the instrument. An anomalous indorsement does not
   affect the manner in which the instrument may be negotiated.
   

[Previous] [Next]