§ 26-1-3.1-403 — Unauthorized signature

Indiana § 26-1-3.1-403

• Jurisdiction: Indiana
• Title 26: COMMERCIAL LAW
• Art. 1: UNIFORM COMMERCIAL CODE
• Ch. 3.1: Negotiable Instruments

Text

(a) Unless otherwise provided in IC 26-1-3.1 or IC 26-1-4, an unauthorized signature is ineffective except
as the signature of the unauthorized signer in favor of a person who in
good faith pays the instrument or takes it for value. An unauthorized
signature may be ratified for all purposes of IC 26-1-3.1.
(b) If the signature of more than one (1) person is required to
constitute the authorized signature of an organization, the signature of
the organization is unauthorized if one (1) of the required signatures is
lacking.
(c) The civil or criminal liability of a person who makes an
unauthorized signature is not affected by any provision of IC 26-1-3.1
that makes the unauthorized signature effective for the purposes of IC 26-1-3.1.

Legislative History

As added by P.L.222-1993, SEC.5.