A person taking an instrument, other than a person having rights of a holder in due course, is subject to a claim of a property or possessory right in the instrument or its proceeds, including a claim to rescind a negotiation and to recover the instrument or its proceeds. A person having rights of a holder in due course takes free of the claim to the instrument.
Structure Alaska Statutes
Chapter 03. Negotiable Instruments
Article 3. Rights of a Holder.
Sec. 45.03.301. Person entitled to enforce instrument.
Sec. 45.03.302. Holder in due course.
Sec. 45.03.303. Value and consideration.
Sec. 45.03.304. Overdue instrument.
Sec. 45.03.305. Defenses and claims in recoupment.
Sec. 45.03.306. Claims to an instrument.
Sec. 45.03.307. Notice of breach of fiduciary duty.
Sec. 45.03.308. Proof of signatures and status as holder in due course.
Sec. 45.03.309. Enforcement of lost, destroyed, or stolen instrument.
Sec. 45.03.310. Effect of instrument on obligation for which taken.
Sec. 45.03.311. Accord and satisfaction by use of instrument.
Sec. 45.03.312. Lost, destroyed, or stolen cashier's check, teller's check, or certified check.