70A-3-201 - Negotiation.
70A-3-201. Negotiation.
(1) "Negotiation" means a transfer of possession, whether voluntary or involuntary, of aninstrument by a person other than the issuer to a person who thereby becomes its holder.
(2) Except for negotiation by a remitter, if an instrument is payable to an identifiedperson, negotiation requires transfer of possession of the instrument and its indorsement by theholder. If an instrument is payable to bearer, it may be negotiated by transfer of possession alone.
Repealed and Re-enacted by Chapter 237, 1993 General Session