Arizona Revised Statutes (Last Updated: March 31, 2016) |
Title 47. Uniform Commercial Code |
Chapter 8. INVESTMENT SECURITIES |
Article 2. Issue and Issuer |
Sec 47-8206. Completion or alteration of security certificate
Latest version.
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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 blank 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.