The Vermont Statutes Online
Uniform Commercial Code
3-403. Unauthorized signature
otherwise provided in this article or Article 4 of this title, an unauthorized
signature is ineffective except as the signature of the unauthorized signer in
favor of a person who in good faith pays the instrument or takes it for value.
An unauthorized signature may be ratified for all purposes of this article.
(b) If the
signature of more than one person is required to constitute the authorized
signature of an organization, the signature of the organization is unauthorized
if one of the required signatures is lacking.
(c) The civil or
criminal liability of a person who makes an unauthorized signature is not
affected by any provision of this article which makes the unauthorized
signature effective for the purposes of this article. (Added 1993, No. 158
(Adj. Sess.), § 12, eff. Jan. 1, 1995.)