408.206 Completion or 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: 1997 a. 297.
Structure Wisconsin Statutes & Annotations
Wisconsin Statutes & Annotations
Chapter 408 - Uniform commercial code — investment securities.
408.104 - Acquisition of security or financial asset or interest therein.
408.105 - Notice of adverse claim.
408.107 - Whether endorsement, instruction or entitlement order is effective.
408.108 - Warranties in direct holding.
408.109 - Warranties in indirect holding.
408.110 - Applicability; choice of law.
408.111 - Clearing corporation rules.
408.112 - Creditor's legal process.
408.113 - Statute of frauds inapplicable.
408.114 - Evidentiary rules concerning certificated securities.
408.115 - Securities intermediary and others not liable to adverse claimant.
408.116 - Securities intermediary as purchaser for value.
408.202 - Issuer's responsibility and defenses; notice of defect or defense.
408.203 - Staleness as notice of defect or defense.
408.204 - Effect of issuer's restriction on transfer.
408.205 - Effect of unauthorized signature on security certificate.
408.206 - Completion or alteration of security certificate.
408.207 - Rights and duties of issuer with respect to registered owners.
408.208 - Effect of signature of authenticating trustee, registrar or transfer agent.
408.302 - Rights of purchaser.
408.303 - Protected purchaser.
408.306 - Effect of guaranteeing signature, endorsement or instruction.
408.307 - Purchaser's right to requisites for registration of transfer.
408.401 - Duty of issuer to register transfer.
408.402 - Assurance that endorsement or instruction is effective.
408.403 - Demand that issuer not register transfer.
408.404 - Wrongful registration.
408.405 - Replacement of lost, destroyed or wrongfully taken security certificate.
408.406 - Obligation to notify issuer of lost, destroyed or wrongfully taken security certificate.
408.407 - Authenticating trustee, transfer agent and registrar.
408.501 - Securities account; acquisition of security entitlement from securities intermediary.
408.502 - Assertion of adverse claim against entitlement holder.
408.504 - Duty of securities intermediary to maintain financial asset.
408.505 - Duty of securities intermediary with respect to payments and distributions.
408.506 - Duty of securities intermediary to exercise rights as directed by entitlement holder.
408.507 - Duty of securities intermediary to comply with entitlement order.
408.510 - Rights of purchaser of security entitlement from entitlement holder.
408.511 - Priority among security interests and entitlement holders.