§3-403. Unauthorized signature

Link to law: http://legislature.vermont.gov/statutes/section/09A/003/00403
Published: 2015

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The Vermont Statutes Online



Title

09A

:
Uniform Commercial Code






Chapter

003

:
Commercial Paper











 

§

3-403. Unauthorized signature

(a) Unless

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.)
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