400.3-205. Special endorsement--blank endorsement--anomalous endorsement. - Missouri Statutes

Special endorsement--blank endorsement--anomalous endorsement.

400.3-205. (a) If an endorsement is made by the holder ofan instrument, whether payable to an identified person or payableto bearer, and the endorsement identifies a person to whom itmakes the instrument payable, it is a "special endorsement."When specially endorsed, an instrument becomes payable to theidentified person and may be negotiated only by the endorsementof that person. The principles stated in Section 400.3-110 applyto special endorsements.

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

(c) The holder may convert a blank endorsement thatconsists only of a signature into a special endorsement bywriting, above the signature of the endorser, words identifyingthe person to whom the instrument is made payable.

(d) "Anomalous endorsement" means an endorsement made by aperson who is not the holder of the instrument. An anomalousendorsement does not affect the manner in which the endorsementmay be negotiated.

(L. 1992 S.B. 448)

*No continuity with § 400.3-205 as repealed by L. 1992 S.B. 448.