California Commercial Code

§ 8402

COM § 8402 Effective Jan 1, 1997Div. 8 · Ch. 4

Statute text

(a)An issuer may require the following assurance that each necessary endorsement or each instruction is genuine and authorized:

(1)In all cases, a guaranty of the signature of the person making an endorsement or originating an instruction including, in the case of an instruction, reasonable assurance of identity.

(2)If the endorsement is made or the instruction is originated by an agent, appropriate assurance of actual authority to sign.

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Legislative history

Repealed and added by Stats. 1996, Ch. 497, Sec. 9. Effective January 1, 1997.