{"data":{"id":"us-wi/wis.-stat.-408.304","jurisdiction":"us-wi","citation":"Wis. Stat. § 408.304","heading":"Endorsement.","body":"(1) An endorsement may be in blank or special. An endorsement in blank includes an endorsement to bearer. A special endorsement specifies to whom a security is to be transferred or who has power to transfer it. A holder may convert a blank endorsement to a special endorsement.\n(2) An endorsement purporting to be only an endorsement of part of a security certificate representing units intended by the issuer to be separately transferable is effective to the extent of the endorsement.\n(3) An endorsement, whether special or in blank, does not constitute a transfer until delivery of the certificate on which it appears or, if the endorsement 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 endorsement, the purchaser may become a protected purchaser only when the endorsement is supplied. However, against a transferor, a transfer is complete upon delivery and the purchaser has a specifically enforceable right to have any necessary endorsement supplied.\n(5) An endorsement 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 endorsement assumes only the obligations provided in s. 408.108 and not an obligation that the security will be honored by the issuer.","path":["Chs. 401-411, Uniform Commercial Code","Chapter 408 Uniform Commercial Code — Investment Securities","SUBCHAPTER III TRANSFER OF CERTIFICATED ANDUNCERTIFICATED SECURITIES"],"source_url":"https://docs.legis.wisconsin.gov/document/statutes/408.304","current_through":"2023-24 Wisconsin Statutes updated through 2025 Wis. Act 247 (published 9-4-26)","vintage":"","retrieved_at":"2026-09-05T12:01:22Z","sha256":"92bd54e78d9835e7222333600d84bfa851f76c679b832118ef740cdefae86d97","source_id":"us-wi","stale":false,"prev":"us-wi/wis.-stat.-408.303","next":"us-wi/wis.-stat.-408.305"},"notice":"GroundRules: Original legal text. Not legal advice."}