New York Uniform Commercial Code Law Section 3-205 - Restrictive Indorsements.

Section 3--205. Restrictive Indorsements.
An indorsement is restrictive which either
(a) is conditional; or
(b) purports to prohibit further transfer of the instrument; or
(c)  includes  the  words  "for  collection",  "for deposit", "pay any
  bank", or like terms signifying a purpose of deposit or collection; or
(d) otherwise states that it is for the benefit or use of the indorser
  or of another person.

Last modified: February 3, 2019