There is a newer version of the Utah Code
2015 Utah Code
Title 70A - Uniform Commercial Code
Chapter 3 - Uniform Commercial Code - Negotiable Instruments
Part 2 - Negotiation, Transfer, and Indorsement
Section 207 - Reacquisition.
UT Code § 70A-3-207 (2015) What's This?
70A-3-207. 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.
Repealed and Re-enacted by Chapter 237, 1993 General Session
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