New York § 3-205 Restrictive Indorsements

New York Statutes

§ 3-205 — Restrictive Indorsements

New York·Law UCC Uniform Commercial Code·Part 2 Transfer and Negotiation·Art. 3 Commercial Paper

Section 3--205. Restrictive Indorsements.\n  An indorsement is restrictive which either\n  (a) is conditional; or\n  (b) purports to prohibit further transfer of the instrument; or\n  (c) includes the words "for collection", "for deposit", "pay any\nbank", or like terms signifying a purpose of deposit or collection; or\n  (d) otherwise states that it is for the benefit or use of the indorser\nor of another person.\n

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Section 3--205. Restrictive Indorsements.\n An indorsement is restrictive which either\n (a) is conditional; or\n (b) purports to prohibit further transfer of the instrument; or\n (c) includes the words "for collection", "for deposit", "pay any\nbank", or like terms signifying a purpose of deposit or collection; or\n (d) otherwise states that it is for the benefit or use of the indorser\nor of another person.\n

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