Ky. Rev. Stat. § 355.3-201

Current through 2024 Ky. Acts ch. 225

Section 355.3-201 - Negotiation

(1) "Negotiation" means a transfer of possession, whether voluntary or involuntary, of an instrument by a person other than the issuer to a person who thereby becomes its holder.

(2) Except for negotiation by a remitter, if an instrument is payable to an identified person, negotiation requires transfer of possession of the instrument and its indorsement by the holder. If an instrument is payable to bearer, it may be negotiated by transfer of possession alone.

KRS 355.3-201

Effective:1/1/1997
Repealed and reenacted 1996, Ky. Acts ch. 130, sec. 20, effective1/1/1997. -- Created 1958 Ky. Acts ch. 77, sec. 3-201, effective 7/1/1960.