§ 6A-3-207. Reacquisition.
Reacquisition of an instrument occurs if it is transferred to a former holder, by negotiation or otherwise. A former holder who reacquires the instrument may cancel indorsements made after the reacquirer first became a holder of the instrument. If the cancellation causes the instrument to be payable to the reacquirer or to bearer, the reacquirer may negotiate the instrument. An indorser whose indorsement is canceled is discharged, and the discharge is effective against any subsequent holder.
History of Section.P.L. 2000, ch. 238, § 3; P.L. 2000, ch. 421, § 3.
Structure Rhode Island General Laws
Title 6A - Uniform Commercial Code
Chapter 6A-3 - Negotiable Instruments
Part 2 - Negotiation, Transfer, and Indorsement
Section 6A-3-201. - Negotiation.
Section 6A-3-202. - Negotiation subject to rescission.
Section 6A-3-203. - Transfer of instrument — Rights acquired by transfer.
Section 6A-3-204. - Indorsement.
Section 6A-3-205. - Special indorsement — Blank indorsement — Anomalous indorsement.