Michigan Compiled Laws 174-1962-3-2 Part 2 Negotiation, Transfer, And Endorsement (440.3201...440.3208)

• Section 440.3201 Negotiation; Definition; Transfer Of Possession.
  (1) “Negotiation” means a transfer of possession, whether voluntary or involuntary, of an instrument by a person other than the issuer to a person...
• Section 440.3202 Negotiation; Effective Although Subject To Rescission Or Other Remedies.
  (1) Negotiation is effective even if obtained (i) from an infant, a corporation exceeding its powers, or a person without capacity, (ii) by fraud,...
• Section 440.3203 Transfer Of Instrument; Delivery; Rights Of Transferee; Effect Of Transfer Of Less Than Entire Instrument.
  (1) An instrument is transferred when it is delivered by a person other than its issuer for the purpose of giving to the person...
• Section 440.3204 “endorsement” And “endorser” Defined; Transfer Of Security Interest Effective As Unqualified Endorsement; Instrument Payable To Name Other Than Holder.
  (1) “Endorsement” means a signature, other than that of a signer as maker, drawer, or acceptor, that alone or accompanied by other words is...
• Section 440.3205 Special Endorsement; Blank Endorsement; Conversion; “anomalous Endorsement” Defined.
  (1) If an endorsement is made by the holder of an instrument, whether payable to an identified person or payable to bearer, and the...
• Section 440.3206 Endorsement; Limitation; Condition; Words Indicating Collection By Bank; Endorsee As Agent, Trustee, Or Other Fiduciary; Purchaser As Holder In Due Course; Exception; Defense.
  (1) An endorsement limiting payment to a particular person or otherwise prohibiting further transfer or negotiation of the instrument is not effective to prevent...
• Section 440.3207 Instrument; Reacquisition.
  Reacquisition of an instrument occurs if it is transferred to a former holder, by negotiation or otherwise. A former holder who reacquires the instrument...
• Section 440.3208 Repealed. 1993, Act 130, Eff. Sept. 30, 1993.
  Compiler's Notes: The repealed section pertained to reacquisition of instruments.

Last modified: October 10, 2016