Official Code of Georgia Annotated

Title 11. COMMERCIAL CODE · Chapter 3. · Article 3. NEGOTIABLE INSTRUMENTS · Part 3. ENFORCEMENT OF INSTRUMENTS

11-3-306. Claims to an instrument.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

A person taking an instrument, other than a person having rights of a holder in due course, is subject to a claim of a property or possessory right in the instrument or its proceeds, including a claim to rescind a negotiation and to recover the instrument or its proceeds. A person having rights of a holder in due course takes free of the claim to the instrument.

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

Code 1981, § 11-3-306, enacted by Ga. L. 1996, p. 1306, § 3.

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t11-(v9)-2022-pdf.pdf, Volume V9, 2022 edition, page 399; merge action: carried; file SHA-256 ad397fccbf21.