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2016 Statute



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84-3-306.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.

History: L. 1991, ch. 296, § 32; Feb. 1, 1992.



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2017. Powered by KLISS. Rendered: 2017-09-27T14:28:13. Head Rev No: 271978