Code of Alabama |
Match Context and Document information |
URL: | http://alisondb.legislature.state.al.us/alison/CodeOfAlabama /1975/7-8-311.htm |
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Depth: | 0 singles |
Size: | 988 bytes |
Modified: | 1998-01-30 12:02:30 |
Categories: | -None- |
Title: | 7-8-311 |
Description: | -None- |
Keywords: | -None- |
Meta data: | -None- |
Body: | Section 7-8-311 (Effective Until January 1, 1997) Effect of unauthorized indorsement. Unless the owner has ratified an unauthorized indorsement or is otherwise precluded from asserting its ineffectiveness: (a) He may assert its ineffectiveness against the issuer or any purchaser other than a purchaser for value and without notice of adverse claims who has in good faith received a new, reissued or reregistered security on registration of transfer; and (b) An issuer who registers the transfer of a security upon the unauthorized indorsement is subject to liability for improper registration (Section 7-8-404). (Acts 1965, No. 549, p. 811.) |