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 Maryland Statutes
Title 3 - Negotiable Instruments
Subtitle 3 - Enforcement of Instruments
Section 3-301 - Person Entitled to Enforce Instrument
Section 3-302 - Holder in Due Course
Section 3-303 - Value and Consideration
Section 3-304 - Overdue Instrument
Section 3-305 - Defenses and Claims in Recoupment
Section 3-306 - Claims to an Instrument
Section 3-307 - Notice of Breach of Fiduciary Duty
Section 3-308 - Proof of Signatures and Status as Holder in Due Course
Section 3-309 - Enforcement of Lost, Destroyed, or Stolen Instrument
Section 3-310 - Effect of Instrument on Obligation for Which Taken
Section 3-311 - Accord and Satisfaction by Use of Instrument
Section 3-312 - Lost, Destroyed, or Stolen Cashier's Check, Teller's Check, or Certified Check