28-8-206. COMPLETION OR ALTERATION OF SECURITY CERTIFICATE. (1) If a security certificate contains the signatures necessary to its issue or transfer but is incomplete in any other respect:
(a) Any person may complete it by filling in the blanks as authorized; and
(b) 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.
(2) A complete security certificate that has been improperly altered, even if fraudulently, remains enforceable, but only according to its original terms.
History:
[28-8-206, added 1995, ch. 272, sec. 2, p. 887.]
Structure Idaho Code
Title 28 - COMMERCIAL TRANSACTIONS
Chapter 8 - INVESTMENT SECURITIES
Section 28-8-202 - ISSUER’S RESPONSIBILITY AND DEFENSES AND NOTICE OF DEFECT OR DEFENSE.
Section 28-8-203 - STALENESS AS NOTICE OF DEFECT OR DEFENSE.
Section 28-8-204 - EFFECT OF ISSUER’S RESTRICTION ON TRANSFER.
Section 28-8-205 - EFFECT OF UNAUTHORIZED SIGNATURE ON SECURITY CERTIFICATE.
Section 28-8-206 - COMPLETION OR ALTERATION OF SECURITY CERTIFICATE.
Section 28-8-207 - RIGHTS AND DUTIES OF ISSUER WITH RESPECT TO REGISTERED OWNERS.
Section 28-8-208 - EFFECT OF SIGNATURE OF AUTHENTICATING TRUSTEE, REGISTRAR OR TRANSFER AGENT.