California Commercial Code

§ 8114

COM § 8114 Effective Jan 1, 1997Div. 8 · Ch. 1

Statute text

The following rules apply in an action on a certificated security against the issuer:

(a)Unless specifically denied in the pleadings, each signature on a security certificate or in a necessary endorsement is admitted.

(b)If the effectiveness of a signature is put in issue, the burden of establishing effectiveness is on the party claiming under the signature, but the signature is presumed to be genuine or authorized.

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Legislative history

Added by Stats. 1996, Ch. 497, Sec. 9. Effective January 1, 1997.