{"data":{"id":"us-me/11-m.r.s.-8-1304","jurisdiction":"us-me","citation":"11 M.R.S. §8-1304","heading":"Indorsement","body":"(1).   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(2).   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(3).   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(4).   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(5).   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(6).   Unless otherwise agreed, a person making an indorsement assumes only the obligations provided in section 8‑1108 and not an obligation that the security will be honored by the issuer.","path":["TITLE 11: UNIFORM COMMERCIAL CODE","PART 3: TRANSFER OF CERTIFICATED AND UNCERTIFICATED SECURITIES"],"source_url":"https://legislature.maine.gov/statutes/11/title11sec8-1304.html","current_through":"October 1, 2025","vintage":"","retrieved_at":"2026-09-04T15:12:25Z","sha256":"be140f1f28e16572eb658089fc4683aa2c465ae4c3a6cd68df9f60e69b437ec5","source_id":"us-me","stale":false,"prev":"us-me/11-m.r.s.-8-1303","next":"us-me/11-m.r.s.-8-1305"},"notice":"GroundRules: Original legal text. Not legal advice."}