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2017 South Carolina Code of Laws
Title 36 - Commercial Code
CHAPTER 3 - COMMERCIAL CODE - NEGOTIABLE INSTRUMENTS
Section 36-3-306. Claims to instrument.
Universal Citation: SC Code § 36-3-306 (2017)
A person taking an instrument, other than a person having rights of a holder in due course, is subject to a claim of a property or possessory right in the instrument or its proceeds, including a claim to rescind a negotiation and to recover the instrument or its proceeds. A person having rights of a holder in due course takes free of the claim to the instrument.
HISTORY: 1962 Code Section 10.3-306; 1966 (54) 2716; 2008 Act No. 204, Section 2, eff July 1, 2008.
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