Tex. Business & Commerce Code § 3.201
This is the official text of Tex. Business & Commerce Code § 3.201, part of Texas’s Business & Commerce Code — governs commercial transactions and general business practices.
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§ 3.201. NEGOTIATION.
Official statutory text
(a) "Negotiation" means a transfer of possession, whether voluntary or involuntary, of an instrument by a person other than the issuer to a person who thereby becomes its holder.
(b) Except for negotiation by a remitter, if an instrument is payable to an identified person, negotiation requires transfer of possession of the instrument and its indorsement by the holder. If an instrument is payable to bearer, it may be negotiated by transfer of possession alone.
(b) Except for negotiation by a remitter, if an instrument is payable to an identified person, negotiation requires transfer of possession of the instrument and its indorsement by the holder. If an instrument is payable to bearer, it may be negotiated by transfer of possession alone.
Status: in_force · Read it on the official government site
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