Illinois Statutes
§ 3-306 — Claims to an instrument
Illinois § 3-306
JurisdictionIllinois
TopicBUSINESS AND EMPLOYMENT
Ch. 810COMMERCIAL CODE
Act 810 ILCS 5/Uniform Commercial Code.
Art.Article 3 - Negotiable Instruments
This text of Illinois § 3-306 (Claims to an instrument) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
810 Ill. Comp. Stat. 3-306 (2026).
Text
A person taking an instrument, other than a person having rights of a holder in due course, is subject to a claim of a property or possessory right in the instrument or its proceeds, including a claim to rescind a negotiation and to recover the instrument or its proceeds. A person having rights of a holder in due course takes free of the claim to the instrument.
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Legislative History
(Source: P.A. 87-582.)
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 instrumentCite This Page — Counsel Stack
Bluebook (online)
Illinois § 3-306, Counsel Stack Legal Research, https://law.counselstack.com/statute/il/810/3-306.