{"data":{"id":"us-nc/n.c.-gen.-stat.-25-8-304","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 25-8-304","heading":"Indorsement.","body":"(a)\tAn 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)\tAn indorsement purporting to be only 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)\tAn 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(d)\tIf 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)\tAn 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)\tUnless otherwise agreed, a person making an indorsement assumes only the obligations provided in G.S. 25-8-108 and not an obligation that the security will be honored by the issuer. (1899, c. 733, ss. 37, 56; Rev., ss. 2186, 2205; C.S., ss. 3018, 3037; 1965, c. 700, s. 1; 1989, c. 588, s. 1; 1997-181, s. 1.)","path":["Chapter 25. Uniform Commercial Code.","Article 8. Investment Securities.","Part 3. Transfer of Certificated and Uncertificated Securities."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_25/GS_25-8-304.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T17:58:47Z","sha256":"e7f0a63699ce58aaa58b922176a1a2012c7a8133b7a6123d12d20aff68bc784c","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-25-8-303","next":"us-nc/n.c.-gen.-stat.-25-8-305"},"notice":"GroundRules: Original legal text. Not legal advice."}