Indiana § 26-1-8.1-206 Enforceability of incomplete or incorrect certificate

Indiana Statutes

§ 26-1-8.1-206 — Enforceability of incomplete or incorrect certificate

Indiana § 26-1-8.1-206

Title 26COMMERCIAL LAW

Art. 1UNIFORM COMMERCIAL CODE

Ch. 8.1Investment Securities

This text of Indiana § 26-1-8.1-206 (Enforceability of incomplete or incorrect certificate) 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 § 26-1-8.1-206 (2026).

Text

(a)If a security certificate contains the signatures necessary to its issue or transfer but is incomplete in any other respect:

(1)any person may complete it by filling in the blanks as authorized; and

(2)even if the blanks are incorrectly filled in, the security certificate as completed is enforceable by a purchaser who took it for value and without notice of the incorrectness.

(b)A complete security certificate that has been improperly altered, even if fraudulently, remains enforceable, but only according to its original terms.

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(a) If a security certificate contains the
signatures necessary to its issue or transfer but is incomplete in any
other respect:
(1) any person may complete it by filling in the blanks as
authorized; and
(2) even if the blanks are incorrectly filled in, the security
certificate as completed is enforceable by a purchaser who took
it for value and without notice of the incorrectness.
(b) A complete security certificate that has been improperly altered,
even if fraudulently, remains enforceable, but only according to its
original terms.