If a certificated security in registered form has been delivered to a purchaser without a necessary indorsement he or she may become a bona fide purchaser only as of the time the indorsement is supplied; but against the transferor, the transfer is complete upon delivery and the purchaser has a specifically enforceable right to have any necessary indorsement supplied.

History.--s. 1, ch. 65-254; s. 1, ch. 87-275; s. 662, ch. 97-102.

Note.--s. 8-307, U.C.C.; supersedes ss. 674.51, 614.11.