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2017 Code of Alabama
Title 7 - COMMERCIAL CODE.
Article 8 - INVESTMENT SECURITIES.
Part 2 - Issue and Issuer.
Section 7-8-206 - Completion or alteration of security certificate.
Universal Citation: AL Code § 7-8-206 (2017)
Section 7-8-206Completion or alteration of security certificate.
(a) If a security certificate contains the signatures necessary to its issue or transfer but is incomplete in any other respect:
(1) any person may complete it by filling in the blanks as authorized; and
(2) even if the blanks are incorrectly filled in, the security certificate as completed is enforceable by a purchaser who took it for value and without notice of the incorrectness.
(b) A complete security certificate that has been improperly altered, even if fraudulently, remains enforceable, but only according to its original terms.
(Acts 1965, No. 549, p. 811; repealed by Acts 1996, No. 96-742, p. 1241, §1; added by Acts 1996, No. 96-742, p. 1241, §1.)
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