Montana Statutes
§ 30-3-306 — Claims To An Instrument
Montana·Title 30 TRADE AND COMMERCE·Ch. 3 UNIFORM COMMERCIAL CODE NEGOTIABLE INSTRUMENTS·Part 3 Rights of a Holder
30-3-306 . Claims to an instrument. A person taking an instrument, other than a person having rights of a holder in due course, is subject to a claim of a property or possessory right in the instrument or its proceeds, including a claim to rescind a negotiation and to recover the instrument or its proceeds. A person having rights of a holder in due course takes free of the claim to the instrument.
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Legislative History
En. Sec. 3-306, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-306; amd. Sec. 119, 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Repealed§ 30-3-104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Repealed§ 30-3-107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Repealed§ 30-3-111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Repealed§ 30-3-113
Repealed§ 30-3-114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