{"data":{"id":"us-mi/mich.-comp.-laws-440.8114","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 440.8114","heading":"Action on certificated security against issuer; rules.","body":"Sec. 8114.\n\nThe following rules apply in an action on a certificated security against the issuer:\n\nUnless specifically denied in the pleadings, each signature on a security certificate or in a necessary indorsement is admitted.\n\nIf the effectiveness of a signature is put in issue, the burden of establishing effectiveness is on the party claiming under the signature, but the signature is presumed to be genuine or authorized.\n\nIf signatures on a security certificate are admitted or established, production of the certificate entitles a holder to recover on it unless the defendant establishes a defense or a defect going to the validity of the security.\n\nIf it is shown that a defense or defect exists, the plaintiff has the burden of establishing that the plaintiff or some person under whom the plaintiff claims is a person against whom the defense or defect cannot be asserted.","path":["MI Code","Chapter 440","Act Act-174-of-1962"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-440-8114","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"5078de7475d8c33fff63e3bb7e9dfa17951326b67359814df1d7e813a05532cb","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-440.8113","next":"us-mi/mich.-comp.-laws-440.8115"},"notice":"GroundRules: Original legal text. Not legal advice."}