Laws of New York (Last Updated: November 21, 2014) |
UCC Uniform Commercial Code |
Article 8. INVESTMENT SECURITIES |
Part 2. ISSUE and ISSUER |
Section 8--206. Completion or Alteration of Security Certificate
Latest version.
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(a) If a security certificate contains the signatures necessary to its issue or transfer but is incomplete in any other respect: (1) any person may complete it by filling in the blanks as authorized; and (2) even if the blanks are incorrectly filled in, the security certificate as completed is enforceable by a purchaser who took it for value and without notice of the incorrectness. (b) A complete security certificate that has been improperly altered, even if fraudulently, remains enforceable, but only according to its original terms.