§ 6A-8-206. Completion of alteration of security certificate.
(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.
History of Section.P.L. 2000, ch. 182, § 5; P.L. 2000, ch. 420, § 5.
Structure Rhode Island General Laws
Title 6A - Uniform Commercial Code
Chapter 6A-8 - Investment Securities
Section 6A-8-202. - Issuer’s responsibility and defenses — Notice of defect or defense.
Section 6A-8-203. - Staleness as notice of defect or defense.
Section 6A-8-204. - Effect of issuer’s restriction on transfer.
Section 6A-8-205. - Effect of unauthorized signature on security certificate.
Section 6A-8-206. - Completion of alteration of security certificate.
Section 6A-8-207. - Rights and duties of issuer with respect to registered owners.
Section 6A-8-208. - Effect of signature of authenticating trustee, registrar, or transfer agent.