Illinois Statutes
§ 3-201 — Negotiation
Illinois·Topic BUSINESS AND EMPLOYMENT·Ch. 810 COMMERCIAL CODE·Act 810 ILCS 5/ Uniform Commercial Code.·Art. Article 3 - Negotiable Instruments
(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 its holder.
(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 indorsement by the holder. If an instrument is payable to bearer, it may be negotiated by transfer of possession alone.
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Illinois § 3-201 (Negotiation) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
(Source: P.A. 87-582; 87-1135.)
Nearby Sections
15
§ 3-101
Short title§ 3-102
Subject matter§ 3-103
Definitions§ 3-104
Negotiable instrument§ 3-105
Issue of instrument§ 3-111
Place of payment§ 3-112
Interest§ 3-113
Date of instrument§ 3-115
Incomplete instrument