- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 8. Investment Securities
- Section 304. Endorsement.
previous: Section 303
. Protected Purchaser.
next: Section 305
AS 45.08.304. Endorsement.
- (a) An endorsement may be in blank or special. An endorsement in blank includes an endorsement to bearer. A special
endorsement specifies to whom a security is to be transferred or who has power to transfer it. A holder may convert a
blank endorsement to a special endorsement.
- (b) An endorsement purporting to be only of part of a security certificate representing units intended by the issuer to be
separately transferable is effective to the extent of the endorsement.
- (c) An endorsement, whether special or in blank, does not constitute a transfer until delivery of the certificate on which
it appears or, if the endorsement is on a separate document, until delivery of both the document and the certificate.
- (d) If a security certificate in registered form has been delivered to a purchaser without a necessary endorsement, the
purchaser may become a protected purchaser only when the endorsement is supplied. However, against a transferor, a
transfer is complete upon delivery and the purchaser has a specifically enforceable right to have any necessary
- (e) An endorsement of a security certificate in bearer form may give notice of an adverse claim to the certificate, but it
does not otherwise affect a right to registration that the holder possesses.
- (f) Unless otherwise agreed, a person making an endorsement assumes only the obligations provided in AS 45.08.108
and not an obligation that the security will be honored by the issuer.
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