2006 New York Code - Negotiation.

 
    Section 3--202. Negotiation.
    (1) Negotiation is the transfer of an instrument in such form that the
  transferee becomes a holder. If the instrument is payable to order it is
  negotiated  by  delivery  with  any necessary indorsement; if payable to
  bearer it is negotiated by delivery.
    (2) An indorsement must be written by or on behalf of the  holder  and
  on the instrument or on a paper so firmly affixed thereto as to become a
  part thereof.
    (3)  An  indorsement is effective for negotiation only when it conveys
  the entire instrument or any unpaid residue. If it  purports  to  be  of
  less it operates only as a partial assignment.
    (4)  Words  of  assignment, condition, waiver, guaranty, limitation or
  disclaimer of liability and the like accompanying an indorsement do  not
  affect its character as an indorsement.