Sec. 42a-8-114. Evidentiary rules concerning certificated securities.
Sec. 42a-8-114. Evidentiary rules concerning certificated securities. The following rules apply in an action on a certificated security against the issuer:
(1) Unless specifically denied in the pleadings, each signature on a security certificate or in a necessary endorsement is admitted.
(2) If the effectiveness of a signature is put in issue, the burden of establishing
effectiveness is on the party claiming under the signature, but the signature is presumed
to be genuine or authorized.
(3) If signatures on a security certificate are admitted or established, production of
the certificate entitles a holder to recover on it unless the defendant establishes a defense
or a defect going to the validity of the security.
(4) If it is shown that a defense or defect exists, the plaintiff has the burden of
establishing that the plaintiff or some person under whom the plaintiff claims is a person
against whom the defense or defect cannot be asserted.
(P.A. 97-182, S. 14.)