Montana § 30-3-208 Reacquisition

Montana Statutes

§ 30-3-208 — Reacquisition

Montana § 30-3-208

Title 30TRADE AND COMMERCE

Ch. 3UNIFORM COMMERCIAL CODE NEGOTIABLE INSTRUMENTS

Part 2Transfer and Negotiation

This text of Montana § 30-3-208 (Reacquisition) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 30-3-208 (2026).

Text

30-3-208 . Reacquisition. Reacquisition of an instrument occurs if it is transferred, by negotiation or otherwise, to a former holder. A former holder that reacquires the instrument may cancel indorsements 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 indorser whose indorsement is canceled is discharged, and the discharge is effective against any late holder.

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30-3-208 . Reacquisition. Reacquisition of an instrument occurs if it is transferred, by negotiation or otherwise, to a former holder. A former holder that reacquires the instrument may cancel indorsements 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 indorser whose indorsement is canceled is discharged, and the discharge is effective against any late holder.