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2011 Maine Revised Statutes
TITLE 11: UNIFORM COMMERCIAL CODE
Article 3-A: NEGOTIABLE INSTRUMENTS
11 §3-1201. Negotiation

Universal Citation:
11 ME Rev Stat § 3-1201 (2011 through 125th Legis)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

Part 2: NEGOTIATION, TRANSFER AND INDORSEMENT

§3-1201. Negotiation

(1). "Negotiation" means a transfer of possession, whether voluntary or involuntary, of an instrument by a person other than the issuer to a person who thereby becomes its holder.

[ 1993, c. 293, Pt. A, §2 (NEW) .]

(2). Except for negotiation by a remitter, if an instrument is payable to an identified person, negotiation requires transfer of possession of the instrument and its indorsement by the holder. If an instrument is payable to bearer, it may be negotiated by transfer of possession alone.

[ 1993, c. 293, Pt. A, §2 (NEW) .]

SECTION HISTORY

1993, c. 293, §A2 (NEW).

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