A person taking an instrument, other than a person having rights of a holder in due course, is subject to a claim of a property or possessory right in the instrument or its proceeds, including a claim to rescind a negotiation and to recover the instrument or its proceeds. A person having rights of a holder in due course takes free of the claim to the instrument.
Section: Previous 11-3-301 11-3-302 11-3-303 11-3-304 11-3-305 11-3-306 11-3-307 11-3-308 11-3-309 11-3-310 11-3-311 11-3-312 NextLast modified: October 14, 2016