TITLE 6A
Uniform Commercial Code

CHAPTER 6A-3
Negotiable Instruments

PART 6A-3-301
Enforcement of Instruments

SECTION 6A-3-306


§ 6A-3-306 Claims to an instrument.

A person taking an instrument, other than a person having rights of a holder in due course, is subject to a claim of a property or possessory right in the instrument or its proceeds, including a claim to rescind a negotiation and to recover the instrument or its proceeds. A person having rights of a holder in due course takes free of the claim to the instrument.

History of Section.
(P.L. 2000, ch. 238, § 3; P.L. 2000, ch. 421, § 3.)