GroundRules
Tex. Business & Commerce Code § 3.207: REACQUISITION.
Where this section sits in the code
- BUSINESS AND COMMERCE CODE
- TITLE 1. UNIFORM COMMERCIAL CODE
- CHAPTER 3. NEGOTIABLE INSTRUMENTS
- SUBCHAPTER B. NEGOTIATION, TRANSFER, AND INDORSEMENT
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.
Amended by Acts 1995, 74th Leg., ch. 921, Sec. 1, eff. Jan. 1, 1996.
Collected 2026-08-27T01:46:56Z. Source file · JSON