Md. Code, Commercial Law § 3-306
This is the official text of Md. Code, Commercial Law § 3-306, part of Maryland’s Code, Commercial Law — governs commercial transactions - Maryland's version of the Uniform Commercial Code.
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§3–306.
Official statutory text
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.
Status: in_force · Read it on the official government site
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