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2012 Pennsylvania Consolidated Statutes
Title 13 - COMMERCIAL CODE
Chapter 32 - Negotiation, Transfer and Indorsement
Section 3207 - Reacquisition

     § 3207.  Reacquisition.
        Reacquisition of an instrument occurs if it is transferred to
     a former holder, by negotiation or otherwise. A former holder
     who reacquires the instrument may cancel indorsements made after
     the reacquirer first became a holder of the instrument. If the
     cancellation causes the instrument to be payable to the
     reacquirer or to bearer, the reacquirer may negotiate the
     instrument. An indorser whose indorsement is canceled is
     discharged, and the discharge is effective against any
     subsequent holder.

        Cross References.  Section 3207 is referred to in section
     3103 of this title.

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