Current through 2024 NY Law Chapters 1-49, 52, and 61-117
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.