Section 45.08.206. Completion or alteration of certificated security.

Latest version.

   (a) If a security certificate contains the signatures necessary to its issue or transfer but is incomplete in another respect,
        (1) a person may complete it by filling in the blanks as authorized; and
        (2) even if the blanks are incorrectly filled in, the security certificate as completed is enforceable by a purchaser who takes it for value and without notice of the incorrectness.
   (b) A complete security certificate that has been improperly altered, even if fraudulently, remains enforceable, but only according to its original terms.
   (c)   [Repealed, Sec. 68 ch 17 SLA 1996].
   (d)   [Repealed, Sec. 68 ch 17 SLA 1996].

Notes

History

(Sec. 8.206 ch 114 SLA 1962; am Sec. 17, 18 ch 49 SLA 1990; am Sec. 23, 24, 68 ch 17 SLA 1996)

                    
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