"Person entitled to enforce" an instrument means:

1. (1) the holder of the instrument;
2. (2) a nonholder in possession of the instrument who has the rights of a holder; or

3. (3) a person not in possession of the instrument who is entitled to enforce the instrument under IC 26-1-3.1-309 or IC 26-1-3.1-418 (d).

   A person may be a person entitled to enforce the instrument even though the person is not the owner of the instrument or is in wrongful possession of the instrument.

As added by P.L.222-1993, SEC.5.