# 11 M.R.S. § 8-1304: 11 §8-1304. Indorsement

> Maine · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1304

## Section

- **Citation:** 11 M.R.S. § 8-1304
- **Heading:** 11 §8-1304. Indorsement
- **Jurisdiction:** Maine
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** ME Code / Title 11 / Chapter 8-A / Section 8-1304

## Text

(1). An indorsement may be in blank or special. An indorsement in blank includes an indorsement to bearer. A special indorsement specifies to whom a security is to be transferred or who has power to transfer it. A holder may convert a blank indorsement to a special indorsement. [PL 1997, c. 429, Pt. B, §2 (NEW).]

(2). An indorsement 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 indorsement. [PL 1997, c. 429, Pt. B, §2 (NEW).]

(3). An indorsement, whether special or in blank, does not constitute a transfer until delivery of the certificate on which it appears or, if the indorsement is on a separate document, until delivery of both the document and the certificate. [PL 1997, c. 429, Pt. B, §2 (NEW).]

(4). If a security certificate in registered form has been delivered to a purchaser without a necessary indorsement, the purchaser may become a protected purchaser only when the indorsement is supplied. However, against a transferor, a transfer is complete upon delivery and the purchaser has a specifically enforceable right to have any necessary indorsement supplied. [PL 1997, c. 429, Pt. B, §2 (NEW).]

(5). An indorsement 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. [PL 1997, c. 429, Pt. B, §2 (NEW).]

(6). Unless otherwise agreed, a person making an indorsement assumes only the obligations provided in section 8‑1108 and not an obligation that the security will be honored by the issuer. [PL 1997, c. 429, Pt. B, §2 (NEW).]

## Nearby sections

- [11 M.R.S. § 8-1101 11 §8-1101. Short title](https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1101.md)
- [11 M.R.S. § 8-1102 11 §8-1102. Definitions](https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1102.md)
- [11 M.R.S. § 8-1103 11 §8-1103. Rules for determining whether certain obligations and interests are securities or financial assets](https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1103.md)
- [11 M.R.S. § 8-1104 11 §8-1104. Acquisition of security or financial asset or interest in a security or financial asset](https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1104.md)
- [11 M.R.S. § 8-1105 11 §8-1105. Notice of adverse claim](https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1105.md)
- [11 M.R.S. § 8-1106 11 §8-1106. Control](https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1106.md)
- [11 M.R.S. § 8-1107 11 §8-1107. Whether indorsement, instruction or entitlement order is effective](https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1107.md)
- [11 M.R.S. § 8-1108 11 §8-1108. Warranties in direct holding](https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1108.md)
- [11 M.R.S. § 8-1109 11 §8-1109. Warranties in indirect holding](https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1109.md)
- [11 M.R.S. § 8-1110 11 §8-1110. Applicability; choice of law](https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1110.md)
- [11 M.R.S. § 8-1111 11 §8-1111. Clearing corporation rules](https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1111.md)
- [11 M.R.S. § 8-1112 11 §8-1112. Creditor's legal process](https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1112.md)
- [11 M.R.S. § 8-1113 11 §8-1113. Statute of frauds inapplicable](https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1113.md)
- [11 M.R.S. § 8-1114 11 §8-1114. Evidentiary rules concerning certificated securities](https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1114.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_ME_T11_C8-A_S8-1304. Check the current official text before relying on it. Not legal advice.