Indiana § 26-1-3.1-207 Reacquisition

Indiana Statutes

§ 26-1-3.1-207 — Reacquisition

Indiana § 26-1-3.1-207

Title 26COMMERCIAL LAW

Art. 1UNIFORM COMMERCIAL CODE

Ch. 3.1Negotiable Instruments

This text of Indiana § 26-1-3.1-207 (Reacquisition) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 26-1-3.1-207 (2026).

Text

Reacquisition of an instrument occurs if
it is transferred to a former holder, by negotiation or otherwise. A
former holder who reacquires the instrument may cancel endorsements
made after the reacquirer first became a holder of the instrument. If the
cancellation causes the instrument to be payable to the reacquirer or to
bearer, the reacquirer may negotiate the instrument. An endorser whose
endorsement is canceled is discharged, and the discharge is effective
against any subsequent holder.

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Reacquisition of an instrument occurs if
it is transferred to a former holder, by negotiation or otherwise. A
former holder who reacquires the instrument may cancel endorsements
made after the reacquirer first became a holder of the instrument. If the
cancellation causes the instrument to be payable to the reacquirer or to
bearer, the reacquirer may negotiate the instrument. An endorser whose
endorsement is canceled is discharged, and the discharge is effective
against any subsequent holder.