{"data":{"id":"us-mt/30-8-334","jurisdiction":"us-mt","citation":"30-8-334","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 30-8-118 and not an obligation that the security will be honored by the issuer.","path":["TITLE 30. TRADE AND COMMERCE","CHAPTER 8. UNIFORM COMMERCIAL CODE INVESTMENT SECURITIES","Part 3. Transfer of Certificated and Uncertificated Securities"],"source_url":"https://mca.legmt.gov/bills/mca/title_0300/chapter_0080/part_0030/section_0340/0300-0080-0030-0340.html","current_through":"Montana Code Annotated 2025","vintage":"","retrieved_at":"2026-09-14T04:51:03Z","sha256":"eb695305a420871f5275c10c836de951b6ba2c9990a545142153257b096e0ea6","source_id":"us-mt","stale":false,"prev":"us-mt/30-8-333","next":"us-mt/30-8-335"},"notice":"GroundRules: Original legal text. Not legal advice."}