70A-3-403 - Unauthorized signature. - Utah Statutes

70A-3-403. Unauthorized signature.
(1) Unless otherwise provided in this chapter or Title 70A, Chapter 4, UniformCommercial Code -- Bank Deposits and Collections, an unauthorized signature is ineffectiveexcept as the signature of the unauthorized signer in favor of a person who in good faith pays theinstrument or takes it for value. An unauthorized signature may be ratified for all purposes of thischapter.
(2) If the signature of more than one person is required to constitute the authorizedsignature of an organization, the signature of the organization is unauthorized if one of therequired signatures is lacking.
(3) The civil or criminal liability of a person who makes an unauthorized signature is notaffected by any provision of this chapter which makes the unauthorized signature effective for thepurposes of this chapter.

Repealed and Re-enacted by Chapter 237, 1993 General Session