400.3-403. Unauthorized signature.
Unauthorized signature.
400.3-403. (a) Unless otherwise provided in this Articleor Article 4, an unauthorized signature is ineffective except asthe signature of the unauthorized signer in favor of a person whoin good faith pays the instrument or takes it for value. Anunauthorized signature may be ratified for all purposes of thisArticle.
(b) If the signature of more than one person is required toconstitute the authorized signature of an organization, thesignature of the organization is unauthorized if one of therequired signatures is lacking.
(c) The civil or criminal liability of a person who makesan unauthorized signature is not affected by any provision ofthis Article which makes the unauthorized signature effective forthe purposes of this Article.
(L. 1992 S.B. 448)*No continuity with § 400.3-403 as repealed by L. 1992 S.B. 448.