45-2-612 - Endorsement and signature guaranty. - Tennessee Statutes

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45-2-612. Endorsement and signature guaranty.

(a) Any bank may assume secondary liability as an endorser of a negotiable or nonnegotiable instrument that it owns or has received for collection or that of the guarantor of the genuineness of a signature.

(b) A bank may disclaim all or any part of the foregoing obligation in its guaranty; however, nothing in this section shall conflict with the Uniform Commercial Code, compiled in title 47, and the Uniform Commercial Code shall govern.

[Acts 1969, ch. 36, § 1 (3.247); T.C.A., § 45-441.]

State Codes and Statutes

Statutes > Tennessee > Title-45 > Chapter-2 > Part-6 > 45-2-612

45-2-612. Endorsement and signature guaranty.

(a) Any bank may assume secondary liability as an endorser of a negotiable or nonnegotiable instrument that it owns or has received for collection or that of the guarantor of the genuineness of a signature.

(b) A bank may disclaim all or any part of the foregoing obligation in its guaranty; however, nothing in this section shall conflict with the Uniform Commercial Code, compiled in title 47, and the Uniform Commercial Code shall govern.

[Acts 1969, ch. 36, § 1 (3.247); T.C.A., § 45-441.]

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State Codes and Statutes

Statutes > Tennessee > Title-45 > Chapter-2 > Part-6 > 45-2-612

45-2-612. Endorsement and signature guaranty.

(a) Any bank may assume secondary liability as an endorser of a negotiable or nonnegotiable instrument that it owns or has received for collection or that of the guarantor of the genuineness of a signature.

(b) A bank may disclaim all or any part of the foregoing obligation in its guaranty; however, nothing in this section shall conflict with the Uniform Commercial Code, compiled in title 47, and the Uniform Commercial Code shall govern.

[Acts 1969, ch. 36, § 1 (3.247); T.C.A., § 45-441.]