Rhode Island General Laws 6A-3-201. Negotiation
Current as of: 2023 | Check for updates
|
Other versions
(a) “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.
Terms Used In Rhode Island General Laws 6A-3-201
- person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6
(b) 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.
History of Section.
P.L. 2000, ch. 238, § 3; P.L. 2000, ch. 421, § 3.