GroundRules
SDCL § 57A-3-306: Claims to an instrument.
Where this section sits in the code
- TITLE 57A. UNIFORM COMMERCIAL CODE
- CHAPTER 57A-3. NEGOTIABLE INSTRUMENTS
A person taking an instrument, other than a person having rights of a holder in due course, is subject to a claim of a property or possessory right in the instrument or its proceeds, including a claim to rescind a negotiation and to recover the instrument or its proceeds. A person having rights of a holder in due course takes free of the claim to the instrument.
Source: SL 1994, ch 367, § 3-306.
Collected 2026-09-03T15:18:57Z. Source file · JSON