678.1141 Evidentiary rules concerning certificated securities.—The following rules apply in an action on a certificated security against the issuer:
(1) Unless specifically denied in the pleadings, each signature on a security certificate or in a necessary indorsement is admitted.
(2) If the effectiveness of a signature is put in issue, the burden of establishing effectiveness is on the party claiming under the signature, but the signature is presumed to be genuine or authorized.
(3) If signatures on a security certificate are admitted or established, production of the certificate entitles a holder to recover on it unless the defendant establishes a defense or a defect going to the validity of the security.
(4) If it is shown that a defense or defect exists, the plaintiff has the burden of establishing that the plaintiff or some person under whom the plaintiff claims is a person against whom the defense or defect cannot be asserted.
History.—s. 1, ch. 98-11.
Section: Previous 678.1041 678.1051 678.1061 678.1071 678.1081 678.1091 678.1101 678.1111 678.1121 678.1131 678.1141 678.1151 678.1161 678.1171 NextLast modified: September 23, 2016