{"data":{"id":"us-ar/ark.-code-ann.-4-8-304","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 4-8-304","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 § 4-8-108 and not an obligation that the security will be honored by the issuer.","path":["Title 4 Business and Commercial Law","Subtitle 1. Uniform Commercial Code","Chapter 8 Investment Securities","Part 3 — Transfer of Certificated and Uncertificated Securities"],"source_url":"https://archive.org/download/gov.ar.code/release78.2020.11.06/gov.ar.code.title.04.odt","current_through":"2020-11-06","vintage":"Arkansas Code Release 78 (2020-11), retrieved 2026-09-17","retrieved_at":"2026-09-17T21:07:03Z","sha256":"c23ea76be0e3f1ea50e0665fb25586127e2b68f8ea02291660165bdb65d10d3c","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-4-8-303","next":"us-ar/ark.-code-ann.-4-8-305"},"notice":"GroundRules: Original legal text. Not legal advice."}