{"data":{"id":"us-al/ala.-code-7-8-304","jurisdiction":"us-al","citation":"Ala. Code § 7-8-304","heading":"Indorsement.","body":"(a) An indorsement may be in blank or special. An indorsement in blank includes an indorsement to bearer. A special indorsement specifies to whom a security is to be transferred or who has power to transfer it. A holder may convert a blank indorsement to a special indorsement.\n(b) An indorsement purporting to be only of part of a security certificate representing units intended by the issuer to be separately transferable is effective to the extent of the indorsement.\n(c) An indorsement, whether special or in blank, does not constitute a transfer until delivery of the certificate on which it appears or, if the indorsement is on a separate document, until delivery of both the document and the certificate.\n(d) If a security certificate in registered form has been delivered to a purchaser without a necessary indorsement, the purchaser may become a protected purchaser only when the indorsement is supplied. However, against a transferor, a transfer is complete upon delivery and the purchaser has a specifically enforceable right to have any necessary indorsement supplied.\n(e) An indorsement of a security certificate in bearer form may give notice of an adverse claim to the certificate, but it does not otherwise affect a right to registration that the holder possesses.\n(f) Unless otherwise agreed, a person making an indorsement assumes only the obligations provided in Section 7-8-108 and not an obligation that the security will be honored by the issuer.","path":["Title 7 Commercial Code.","Article 8 Investment Securities.","Part 3 Transfer of Certificated and Uncertificated Securities."],"source_url":"https://alison.legislature.state.al.us/code-of-alabama?section=7-8-304","current_through":"Act 2026-611","vintage":"","retrieved_at":"2026-09-03T14:01:52Z","sha256":"d9126e37212c8b2e044e905f5f97f35adf41a0116860fa8b146cf7312fb0b2d8","source_id":"us-al","stale":false,"prev":"us-al/ala.-code-7-8-303","next":"us-al/ala.-code-7-8-305"},"notice":"GroundRules: Original legal text. Not legal advice."}