400.3-207. Reacquisition. - Missouri Statutes

Reacquisition.

400.3-207. Reacquisition of an instrument occurs if it istransferred to a former holder, by negotiation or otherwise. Aformer holder who reacquires the instrument may cancelendorsements made after the reacquirer first became a holder ofthe instrument. If the cancellation causes the instrument to bepayable to the reacquirer or to bearer, the reacquirer maynegotiate the instrument. An endorser whose endorsement iscanceled is discharged, and the discharge is effective againstany subsequent holder.

(L. 1992 S.B. 448)

*No continuity with § 400.3-207 as repealed by L. 1992 S.B. 448.