400.8-114. Evidentiary rules concerning certificated securities. - Missouri Statutes

Evidentiary rules concerning certificated securities.

400.8-114. The following rules apply in an action on a certificatedsecurity against the issuer:

(1) Unless specifically denied in the pleadings, each signature on asecurity certificate or in a necessary indorsement is admitted;

(2) If the effectiveness of a signature is put in issue, the burdenof establishing effectiveness is on the party claiming under the signature,but the signature is presumed to be genuine or authorized;

(3) If signatures on a security certificate are admitted orestablished, production of the certificate entitles a holder to recover onit unless the defendant establishes a defense or a defect going to thevalidity of the security;

(4) If it is shown that a defense or defect exists, the plaintiff hasthe burden of establishing that the plaintiff or some person under whom theplaintiff claims is a person against whom the defense or defect cannot beasserted.

(L. 1997 S.B. 6)