47-3201. Negotiation
A. " Negotiation" means a transfer of possession, whether voluntary or involuntary, of an instrument by a person other than the issuer to a person who thereby becomes its holder.
B. Except for negotiation by a remitter, if an instrument is payable to an identified person, negotiation requires transfer of possession of the instrument and its indorsement by the holder. If an instrument is payable to bearer, it may be negotiated by transfer of possession alone.
Section: Previous 47-3113 47-3114 47-3115 47-3116 47-3117 47-3118 47-3119 47-3201 47-3202 47-3203 47-3204 47-3205 47-3206 47-3207 47-3301 NextLast modified: October 13, 2016