Section 45.03.201. Negotiation.

Latest version.

   (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 the holder of the instrument.
   (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 endorsement by the holder. If an instrument is payable to bearer, the instrument may be negotiated by transfer of possession alone.

Authorities

45.03.103;45.05.290

Notes

References

AS 45.03.103 Definitions.
AS 45.05.290

History

(Sec. 3.201 ch 114 SLA 1962; am Sec. 33 ch 35 SLA 1993)

                    
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