{"data":{"id":"us-ma/mass.-gen.-laws-ch.-106-8-304","jurisdiction":"us-ma","citation":"Mass. Gen. Laws ch. 106, § 8-304","heading":"Indorsement","body":"Section 8–304. (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 of a security certificate, 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 8–108 and not an obligation that the security will be honored by the issuer.","path":["Part I","Title XV","Chapter 106","Article 8"],"source_url":"https://malegislature.gov/Laws/GeneralLaws/PartI/TitleXV/Chapter106/Section8-304","current_through":"amendments passed before May 31, 2026","vintage":"","retrieved_at":"2026-09-17T05:22:29Z","sha256":"02359cdd30b39b15bd68e0fb310e76b7fce01e8176377e44218ba351993b3ee6","source_id":"us-ma","stale":false,"prev":"us-ma/mass.-gen.-laws-ch.-106-8-303","next":"us-ma/mass.-gen.-laws-ch.-106-8-305"},"notice":"GroundRules: Original legal text. Not legal advice."}