KRS 355.3-407: Alteration.

(1) "Alteration" means:

(a) An unauthorized change in an instrument that purports to modify in any

respect the obligation of a party; or

(b) An unauthorized addition of words or numbers or other change to an

incomplete instrument relating to the obligation of a party.

(2) Except as provided in subsection (3) of this section, an alteration fraudulently made

discharges a party whose obligation is affected by the alteration unless that party

assents or is precluded from asserting the alteration. No other alteration discharges a

party, and the instrument may be enforced according to its original terms.

(3) A payor bank or drawee paying a fraudulently altered instrument or a person taking

it for value, in good faith and without notice of the alteration, may enforce rights

with respect to the instrument:

(a) According to its original terms; or

(b) In the case of an incomplete instrument altered by unauthorized completion,

according to its terms as completed.