Sec. 3.403. UNAUTHORIZED SIGNATURE. (a) Unless otherwise provided in this chapter or Chapter 4, an unauthorized signature is ineffective except as the signature of the unauthorized signer in favor of a person who in good faith pays the instrument or takes it for value. An unauthorized signature may be ratified for all purposes of this chapter.
(b) If the signature of more than one person is required to constitute the authorized signature of an organization, the signature of the organization is unauthorized if one of the required signatures is lacking.
(c) The civil or criminal liability of a person who makes an unauthorized signature is not affected by any provision of this chapter that makes the unauthorized signature effective for the purposes of this chapter.
Amended by Acts 1995, 74th Leg., ch. 921, Sec. 1, eff. Jan. 1, 1996.
Structure Texas Statutes
Title 1 - Uniform Commercial Code
Chapter 3 - Negotiable Instruments
Subchapter D. Liability of Parties
Section 3.402. Signature by Representative
Section 3.403. Unauthorized Signature
Section 3.404. Impostors; Fictitious Payees
Section 3.405. Employer's Responsibility for Fraudulent Indorsement by Employee
Section 3.406. Negligence Contributing to Forged Signature or Alteration of Instrument
Section 3.408. Drawee Not Liable on Unaccepted Draft
Section 3.409. Acceptance of Draft; Certified Check
Section 3.410. Acceptance Varying Draft
Section 3.411. Refusal to Pay Cashier's Checks, Teller's Checks, and Certified Checks
Section 3.412. Obligation of Issuer of Note or Cashier's Check
Section 3.413. Obligation of Acceptor
Section 3.414. Obligation of Drawer
Section 3.415. Obligation of Indorser
Section 3.416. Transfer Warranties
Section 3.417. Presentment Warranties
Section 3.418. Payment or Acceptance by Mistake