Montana Statutes
§ 30-3-202 — Negotiation
Montana·Title 30 TRADE AND COMMERCE·Ch. 3 UNIFORM COMMERCIAL CODE NEGOTIABLE INSTRUMENTS·Part 2 Transfer and Negotiation
30-3-202 . Negotiation.
(1)"Negotiation" means a transfer of possession, whether voluntary or involuntary, of an instrument to a person who thereby becomes its holder if possession is obtained from a person other than the issuer of the instrument.
(2)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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Legislative History
En. Sec. 3-202, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-202; amd. Sec. 107, Ch. 410, L. 1991.
Nearby Sections
15
§ 30-3-101
Short Title§ 30-3-102
Definitions§ 30-3-103
Repealed§ 30-3-104
Negotiable Instrument§ 30-3-105
Unconditional Promise Or Order§ 30-3-106
Repealed§ 30-3-107
Instrument Payable In Foreign Money§ 30-3-108
Payable On Demand§ 30-3-109
Definite Time§ 30-3-110
Repealed§ 30-3-111
Payable To Bearer Or To Order§ 30-3-112
Repealed§ 30-3-113
Repealed§ 30-3-114
Date Of Instrument§ 30-3-115
Incomplete Instrument