30-8-216. Completion of 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: En. Sec. 42, Ch. 536, L. 1997.
Structure Montana Code Annotated
Chapter 8. Uniform Commercial Code Investment Securities
30-8-209. and 30-8-210 reserved
30-8-212. Issuer's responsibility and defenses -- notice of defect or defense
30-8-213. Staleness as notice of defect or defense
30-8-214. Effect of issuer's restriction on transfer
30-8-215. Effect of unauthorized signature on security certificate
30-8-216. Completion of alteration of security certificate
30-8-217. Rights and duties of issuer with respect to registered owners
30-8-218. Effect of signature of authenticating trustee, registrar, or transfer agent