DecisionDepot
California legal research

California Commercial Code

§ 3207

COM § 3207 Effective Jan 1, 1993Div. 3 · Ch. 2

Statute text

View on leginfo.ca.gov
Reacquisition of an instrument occurs if it is transferred to a former holder, by negotiation or otherwise. A former holder who reacquires the instrument may cancel indorsements made after the reacquirer first became a holder of the instrument. If the cancellation causes the instrument to be payable to the reacquirer or to bearer, the reacquirer may negotiate the instrument. An indorser whose indorsement is canceled is discharged, and the discharge is effective against any subsequent holder.

Legislative history

Repealed and added by Stats. 1992, Ch. 914, Sec. 6. Effective January 1, 1993.

Source: California Commercial Code § 3207 from the California Legislative Information (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.