{"data":{"id":"us-az/a.r.s.-47-8304","jurisdiction":"us-az","citation":"A.R.S. § 47-8304","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\nB. 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\nC. 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\nD. 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\nE. 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\nF. Unless otherwise agreed, a person making an indorsement assumes only the obligations provided in section 47-8108 and not an obligation that the security will be honored by the issuer.","path":["Title 47 Weights and Measures"],"source_url":"https://www.azleg.gov/ars/47/08304.htm","current_through":"57th Legislature, 2nd Regular Session (effective 2027-01-01); mirror section count 24991","vintage":"2026-09-15","retrieved_at":"2026-09-26T04:29:04Z","sha256":"2383cae854057e815253f6a2cb64a1f5a9e741ede8d7cab6f0f1414fbf577922","source_id":"us-az","stale":false,"prev":"us-az/a.r.s.-47-8303","next":"us-az/a.r.s.-47-8305"},"notice":"GroundRules: Original legal text. Not legal advice."}