62A.8-206 - Completion or alteration of security certificate.

Completion or alteration of security certificate.

(1) If a security certificate contains the signatures necessary to its issue or transfer but is incomplete in any other respect:

     (a) Any person may complete it by filling in the blanks as authorized; and

     (b) Even though the blanks are incorrectly filled in, the security certificate as completed is enforceable by a purchaser who took it for value and without notice of the incorrectness.

     (2) A complete security certificate that has been improperly altered, even if fraudulently, remains enforceable, but only according to its original terms.

[1995 c 48 § 22; 1986 c 35 § 13; 1965 ex.s. c 157 § 8-206. Cf. former RCW sections: (i) RCW 23.80.160; 1939 c 100 § 16; RRS § 3803-116; formerly RCW 23.20.170. (ii) RCW 62.01.014, 62.01.015, and 62.01.124; 1955 c 35 §§ 62.01.014, 62.01.015, and 62.01.124; prior: 1899 c 149 §§ 14, 15, and 124; RRS §§ 3405, 3406, and 3514.]

Notes: Effective date -- 1995 c 48: See RCW 62A.11-113.