2006 New York Code - Evidentiary Rules Concerning Certificated Securitites.

 
  Section 8--114. Evidentiary Rules Concerning Certificated Securities.
    The  following  rules  apply  in  an action on a certificated security
  against the issuer:
    (1) Unless specifically denied in the pleadings, each signature  on  a
  security certificate or in a necessary indorsement is admitted.
    (2) If the effectiveness of a signature is put in issue, the burden of
  establishing effectiveness is on the party claiming under the signature,
  but the signature is presumed to be genuine or authorized.
    (3) If   signatures   on   a  security  certificate  are  admitted  or
  established, production of the certificate entitles a holder to  recover
  on  it  unless  the defendant establishes a defense or a defect going to
  the validity of the security.
    (4) If it is shown that a defense or defect exists, the plaintiff  has
  the  burden of establishing that the plaintiff or some person under whom
  the plaintiff claims is a person against  whom  the  defense  or  defect
  cannot be asserted.