Sec. 8.206. COMPLETION OR 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.
Amended by Acts 1995, 74th Leg., ch. 962, Sec. 1, eff. Sept. 1, 1995.
Structure Texas Statutes
Title 1 - Uniform Commercial Code
Chapter 8 - Investment Securities
Subchapter B. Issue and Issuer
Section 8.202. Issuer's Responsibility and Defenses; Notice of Defect or Defense
Section 8.203. Staleness as Notice of Defect or Defense
Section 8.204. Effect of Issuer's Restriction on Transfer
Section 8.205. Effect of Unauthorized Signature on Security Certificate
Section 8.206. Completion or Alteration of Security Certificate
Section 8.207. Rights and Duties of Issuer With Respect to Registered Owners
Section 8.208. Effect of Signature of Authenticating Trustee, Registrar, or Transfer Agent