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2012 Maine Revised Statutes
TITLE 11: UNIFORM COMMERCIAL CODE
Article 3-A: NEGOTIABLE INSTRUMENTS
11 §3-1201. Negotiation


11 ME Rev Stat § 3-1201 (2012 through 125th Legis) What's This?

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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