DecisionDepot
California legal research

Texas Business & Commerce Code

§ 8.206 — COMPLETION OR ALTERATION OF SECURITY CERTIFICATE

BC § 8.206Title 1. UNIFORM COMMERCIAL CODE · Ch. 8. INVESTMENT SECURITIES · Art. B. ISSUE AND ISSUER

Statute text

View on source
(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.

Legislative history

Amended by Acts 1995, 74th Leg., ch. 962, Sec. 1, eff. Sept. 1, 1995.

Source: Texas Business & Commerce Code § 8.206 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.