§ 25-3-201. Negotiation. - North Carolina Statutes

Part 2.

NEGOTIATION, TRANSFER, ANDINDORSEMENT.

§ 25‑3‑201. Negotiation.

(a)        "Negotiation"means a transfer of possession, whether voluntary or involuntary, of aninstrument by a person other than the issuer to a person who thereby becomesits holder.

(b)        Except fornegotiation by a remitter, if an instrument is payable to an identified person,negotiation requires transfer of possession of the instrument and itsindorsement by the holder. If an instrument is payable to bearer, it may benegotiated by transfer of possession alone. ( (1899, c. 733, ss. 30‑32;Rev., ss. 2178, 2179, 2181; C.S., ss. 3010, 3011, 3013; 1965, c. 700, s. 1;1995, c. 232, s. 1.)