Completion or alteration of security certificate
Effective Jul 1, 19961996, c. 216.
- (a) If a security certificate contains the signatures necessary to its issue or transfer but is incomplete in any other respect:
- (1) any person may complete it by filling in the blanks as authorized; and
- (2) even if the blanks are incorrectly filled in, the security certificate as completed is enforceable by a purchaser who took it for value and without notice of the incorrectness.
- (b) A complete security certificate that has been improperly altered, even if fraudulently, remains enforceable, but only according to its original terms.
1996, c. 216.