- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 3. Negotiable Instruments
- Section 207. Reacquisition.
previous: Section 206
. Restrictive Endorsement.
next: Section 208
. Reacquisition. [Repealed, Sec. 127 Ch 35 SLA 1993].
AS 45.03.207. Reacquisition.
Reacquisition of an instrument occurs if it is transferred to a former holder, by negotiation or otherwise. A former
holder who reacquires the instrument may cancel endorsements made after the reacquirer first became a holder of the
instrument. If the cancellation causes the instrument to be payable to the reacquirer or to bearer, the reacquirer may
negotiate the instrument. An endorser whose endorsement is canceled is discharged, and the discharge is effective
against a subsequent holder.
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