§ 6A-3-205 - Special indorsement – Blank indorsement – Anomalous indorsement. - Rhode-island Statutes

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Statutes > Rhode-island > Title-6a > Chapter-6a-3 > 6a-3-205

SECTION 6A-3-205

§ 6A-3-205 Special indorsement –Blank indorsement – Anomalous indorsement. – (a) If an indorsement is made by the holder of an instrument, whether payableto an identified person or payable to bearer, and the indorsement identifies aperson to whom it makes the instrument payable, it is a "special indorsement."When specially indorsed, an instrument becomes payable to the identified personand may be negotiated only by the indorsement of that person. The principlesstated in § 6A-3-110 apply to special indorsements.

(b) If an indorsement is made by the holder of an instrumentand it is not a special indorsement, it is a "blank indorsement." When indorsedin blank, an instrument becomes payable to bearer and may be negotiated bytransfer of possession alone until specially indorsed.

(c) The holder may convert a blank indorsement that consistsonly of a signature into a special indorsement by writing, above the signatureof the indorser, words identifying the person to whom the instrument is madepayable.

(d) "Anomalous indorsement" means an indorsement made by aperson who is not the holder of the instrument. An anomalous indorsement doesnot affect the manner in which the instrument may be negotiated.

State Codes and Statutes

Statutes > Rhode-island > Title-6a > Chapter-6a-3 > 6a-3-205

SECTION 6A-3-205

§ 6A-3-205 Special indorsement –Blank indorsement – Anomalous indorsement. – (a) If an indorsement is made by the holder of an instrument, whether payableto an identified person or payable to bearer, and the indorsement identifies aperson to whom it makes the instrument payable, it is a "special indorsement."When specially indorsed, an instrument becomes payable to the identified personand may be negotiated only by the indorsement of that person. The principlesstated in § 6A-3-110 apply to special indorsements.

(b) If an indorsement is made by the holder of an instrumentand it is not a special indorsement, it is a "blank indorsement." When indorsedin blank, an instrument becomes payable to bearer and may be negotiated bytransfer of possession alone until specially indorsed.

(c) The holder may convert a blank indorsement that consistsonly of a signature into a special indorsement by writing, above the signatureof the indorser, words identifying the person to whom the instrument is madepayable.

(d) "Anomalous indorsement" means an indorsement made by aperson who is not the holder of the instrument. An anomalous indorsement doesnot affect the manner in which the instrument may be negotiated.

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State Codes and Statutes

Statutes > Rhode-island > Title-6a > Chapter-6a-3 > 6a-3-205

SECTION 6A-3-205

§ 6A-3-205 Special indorsement –Blank indorsement – Anomalous indorsement. – (a) If an indorsement is made by the holder of an instrument, whether payableto an identified person or payable to bearer, and the indorsement identifies aperson to whom it makes the instrument payable, it is a "special indorsement."When specially indorsed, an instrument becomes payable to the identified personand may be negotiated only by the indorsement of that person. The principlesstated in § 6A-3-110 apply to special indorsements.

(b) If an indorsement is made by the holder of an instrumentand it is not a special indorsement, it is a "blank indorsement." When indorsedin blank, an instrument becomes payable to bearer and may be negotiated bytransfer of possession alone until specially indorsed.

(c) The holder may convert a blank indorsement that consistsonly of a signature into a special indorsement by writing, above the signatureof the indorser, words identifying the person to whom the instrument is madepayable.

(d) "Anomalous indorsement" means an indorsement made by aperson who is not the holder of the instrument. An anomalous indorsement doesnot affect the manner in which the instrument may be negotiated.