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Code · Washington · Title 62A — Uniform Commercial Code · Chapter 62A.3

RCW 62A.3-306

182 words·~1 min read·/wa/title-62a/chapter-62a-3/62a-3-306·

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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.
[ 1993 c 229 s 34 ; 1965 ex.s. c 157 s 3-306. Cf. former RCW sections:
(i)RCW 62.01.016 ; 1955 c 35 s 62.01.016 ; prior: 1899 c 149 s 16 ; RRS s 3407.
(ii)RCW 62.01.028 ; 1955 c 35 s 62.01.028 ; prior: 1899 c 149 s 28 ; RRS s 3419.
(iii)RCW 62.01.058 ; 1955 c 35 s 62.01.058 ; prior: 1899 c 149 s 58 ; RRS s 3449.
(iv)RCW 62.01.059 ; 1955 c 35 s 62.01.059 ; prior: 1899 c 149 s 59 ; RRS s 3450.]
Notes:
Recovery of attorneys' fees — Effective date — 1993 c 229: See RCW 62A.11-111 and 62A.11-112 .
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