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  • SECTION 3-204
    Special Indorsement; Blank Indorsement
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  • PART 2
    Transfer and Negotiation
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  • SECTION 3-206
    Effect of Restrictive Indorsement
    • This entry was published on 2014-09-22
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    SECTION 3-205

    Restrictive Indorsements

    Uniform Commercial Code (UCC) CHAPTER 38, ARTICLE 3, PART 2

    Section 3--205. Restrictive Indorsements.

    An indorsement is restrictive which either

    (a) is conditional; or

    (b) purports to prohibit further transfer of the instrument; or

    (c) includes the words "for collection", "for deposit", "pay any
    bank", or like terms signifying a purpose of deposit or collection; or

    (d) otherwise states that it is for the benefit or use of the indorser
    or of another person.