North Dakota § 41-03-24 (3-205) Special endorsement - Blank endorsement - Anomalous endorsement

North Dakota Statutes

§ 41-03-24 — (3-205) Special endorsement - Blank endorsement - Anomalous endorsement

North Dakota·Title 41 Uniform Commercial Code·Ch. 41-03 Negotiable Instruments

endorsement.

1.If an endorsement is made by the holder of an instrument, whether payable to an identified person or payable to bearer, and the endorsement identifies a person to whom it makes the instrument payable, it is a "special endorsement". When specially endorsed, an instrument becomes payable to the identified person and may be negotiated only by the endorsement of that person. The principles stated in section 41-03-10 apply to special endorsements.

2.If an endorsement is made by the holder of an instrument and it is not a special endorsement, it is a "blank endorsement". When endorsed in blank, an instrument becomes payable to bearer and may be negotiated by transfer of possession alone until specially endorsed.

3.The holder may convert a blank endorsement that consists only of

Free access — add to your briefcase to read the full text and ask questions with AI

endorsement.
1. If an endorsement is made by the holder of an instrument, whether payable to an
identified person or payable to bearer, and the endorsement identifies a person to
whom it makes the instrument payable, it is a "special endorsement". When specially
endorsed, an instrument becomes payable to the identified person and may be
negotiated only by the endorsement of that person. The principles stated in section
41-03-10 apply to special endorsements.
2. If an endorsement is made by the holder of an instrument and it is not a special
endorsement, it is a "blank endorsement". When endorsed in blank, an instrument
becomes payable to bearer and may be negotiated by transfer of possession alone
until specially endorsed.
3. The holder may convert a blank endorsement that consists only of a signature into a
special endorsement by writing, above the signature of the endorser, words identifying
the person to whom the instrument is made payable.
4. "Anomalous endorsement" means an endorsement made by a person that is not the
holder of the instrument. An anomalous endorsement does not affect the manner in
which the instrument may be negotiated.

North Dakota § 41-03-24 ((3-205) Special endorsement - Blank endorsement - Anomalous endorsement) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.