11 §3-1306. Claims to an instrument
Title 11: UNIFORM COMMERCIAL CODE
Article 3-A: NEGOTIABLE INSTRUMENTS HEADING: PL 1993, C. 293, PT, A, §2 (NEW)
Part 3: ENFORCEMENT OF INSTRUMENTS HEADING: PL 1993, C. 293, PT. A, §2 (NEW)
§3-1306. 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. [1993, c. 293, Pt. A, §2 (NEW).]
SECTION HISTORY
1993, c. 293, §A2 (NEW).