N.Y. Uniform Commercial Code Law § 3-204: Special Indorsement; Blank Indorsement

Section 3--204. Special Indorsement; Blank Indorsement.

(1) A special indorsement specifies the person to whom or to whose

order it makes the instrument payable. Any instrument specially indorsed

becomes payable to the order of the special indorsee and may be further

negotiated only by his indorsement.

(2) An indorsement in blank specifies no particular indorsee and may

consist of a mere signature. An instrument payable to order and indorsed

in blank becomes payable to bearer and may be negotiated by delivery

alone until specially indorsed.

(3) The holder may convert a blank indorsement into a special

indorsement by writing over the signature of the indorser in blank any

contract consistent with the character of the indorsement.