(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.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 1 - Uniform Commercial Code
Chapter 8 - Investment Securities
§ 4-8-202. Issuer's responsibility and defenses — Notice of defect or defense
§ 4-8-203. Staleness as notice of defect or defense
§ 4-8-204. Effect of issuer's restriction on transfer
§ 4-8-205. Effect of unauthorized signature on security certificate
§ 4-8-206. Completion or alteration of security certificate
§ 4-8-207. Rights and duties of issuer with respect to registered owners
§ 4-8-208. Effect of signature of authenticating trustee, registrar, or transfer agent