(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 the holder of the instrument.
(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 endorsement by the holder. If an instrument is payable to bearer, the instrument may be negotiated by transfer of possession alone.
Section: 45.03.201 45.03.202 45.03.203 45.03.204 45.03.205 45.03.206 45.03.207 45.03.208 NextLast modified: November 15, 2016