Idaho § 28-3-205 SPECIAL INDORSEMENT — BLANK INDORSEMENT — ANOMALOUS INDORSEMENT

Idaho Statutes

§ 28-3-205 — SPECIAL INDORSEMENT — BLANK INDORSEMENT — ANOMALOUS INDORSEMENT

Idaho·Title 28 COMMERCIAL TRANSACTIONS·Part 2. NEGOTIATION, TRANSFER, AND INDORSEMENT·Ch. 3 UNIFORM COMMERCIAL CODE — NEGOTIABLE INSTRUMENTS

(1)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 28-3-110 apply to special indorsements.

(2)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.

(3)The holder may convert a blank indorsement that consists only of a signatu

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(1) 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 28-3-110 apply to special indorsements.
(2) 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.
(3) 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.
(4) "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.

Idaho § 28-3-205 (SPECIAL INDORSEMENT — BLANK INDORSEMENT — ANOMALOUS INDORSEMENT) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.