11 §8-1206. Completion or alteration of security certificate
Title 11: UNIFORM COMMERCIAL CODE
Article 8-A: INVESTMENT SECURITIES HEADING: PL 1997, C. 429, PT. B, §2 (NEW)
Part 2: ISSUE AND ISSUER HEADING: PL 1997, C. 429, PT. B, §2 (NEW)
§8-1206. Completion or alteration of security certificate
(1). If a security certificate contains the signatures necessary to its issue or transfer but is incomplete in any other respect:
(a). Any person may complete it by filling in the blanks as authorized; and [1997, c. 429, Pt. B, §2 (NEW).]
(b). Even if the blanks are incorrectly filled in, the security certificate as completed is enforceable by a purchaser who took it for value and without notice of the incorrectness. [1997, c. 429, Pt. B, §2 (NEW).]
[ 1997, c. 429, Pt. B, §2 (NEW) .]
(2). A complete security certificate that has been improperly altered, even if fraudulently, remains enforceable, but only according to its original terms.
[ 1997, c. 429, Pt. B, §2 (NEW) .]
SECTION HISTORY
1997, c. 429, §B2 (NEW).