2010 Pennsylvania Code
Title 13 - COMMERCIAL CODE
Chapter 81 - Short Title and General Matters
8114 - Evidentiary rules concerning certificated securities.

     § 8114.  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.