440.3301 Instrument; person entitled to enforce.
106 words·~1 min read·
/mi/chapter-440/440-3301A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
440.3301 Instrument; person entitled to enforce.
Sec. 3301.
"Person entitled to enforce" an instrument means
(i)the holder of the instrument,
(ii)a nonholder in possession of the instrument who has the rights of a holder, or
(iii)a person not in possession of the instrument who is entitled to enforce the instrument pursuant to section 3309 or 3418(4). A person may be a person entitled to enforce the instrument even though the person is not the owner of the instrument or is in wrongful possession of the instrument.
History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 1993, Act 130, Eff. Sept. 30, 1993