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Title XXVI TRADE AND COMMERCE

Chapter 400

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  400.3-205.  Special endorsement — blank endorsement — anomalous endorsement. — (a)  If an endorsement is made by the holder of an instrument, whether payable to an identified person or payable to bearer, and the endorsement identifies a person to whom it makes the instrument payable, it is a "special endorsement." When specially endorsed, an instrument becomes payable to the identified person and may be negotiated only by the endorsement of that person.  The principles stated in Section 400.3-110 apply to special endorsements.

  (b)  If an endorsement is made by the holder of an instrument and it is not a special endorsement, it is a "blank" endorsement.  When endorsed in blank, an instrument becomes payable to bearer and may be negotiated by transfer of possession alone until specially endorsed.

  (c)  The holder may convert a blank endorsement that consists only of a signature into a special endorsement by writing, above the signature of the endorser, words identifying the person to whom the instrument is made payable.

  (d)  "Anomalous endorsement" means an endorsement made by a person who is not the holder of the instrument.  An anomalous endorsement does not affect the manner in which the endorsement may be negotiated.

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(L. 1992 S.B. 448)


---- end of effective   28 Aug 1992 ----

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