Ky. Rev. Stat. § 355.3-306
Current through Acts Received April 24, 2024
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.
KRS 355.3-306
Repealed and reenacted 1996, Ky. Acts ch. 130, sec. 32, effective1/1/1997. -- Created 1958 Ky. Acts ch. 77, sec. 3-306, effective 7/1/1960.