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2022 Iowa Code
Title XIII - COMMERCE
Chapter 554 - UNIFORM COMMERCIAL CODE
Section 554.3306 - Claims to an instrument.
Universal Citation: IA Code § 554.3306 (2022)
554.3306 Claims to an instrument.
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.
94 Acts, ch 1167, §41, 121, 122
Referred to in §554.3302, 554.3305, 554.3602
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