# Mich. Comp. Laws § 440.8304: Indorsement

> Michigan · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.8304

## Section

- **Citation:** Mich. Comp. Laws § 440.8304
- **Heading:** Indorsement
- **Jurisdiction:** Michigan
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** MI Code / Chapter 440 / Act Act-174-of-1962 / Section 440.8304

## Text

Sec. 8304.

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.

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.

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.

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.

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.

Unless otherwise agreed, a person making an indorsement assumes only the obligations provided in Section 8108 and not an obligation that the security will be honored by the issuer.

History: 1962, Act 174, Eff. Jan. 1, 1964; Am. 1987, Act 16, Imd. Eff. Apr. 24, 1987; Am. 1998, Act 278, Imd. Eff. July 27, 1998

## Nearby sections

- [Mich. Comp. Laws § 440.1102 Applicability of articles.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.1102.md)
- [Mich. Comp. Laws § 440.1103 Construction of act.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.1103.md)
- [Mich. Comp. Laws § 440.1104 Construction of act as to implied repeal by subsequent legislation.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.1104.md)
- [Mich. Comp. Laws § 440.1108 Electronic signatures.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.1108.md)
- [Mich. Comp. Laws § 440.1201 Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.1201.md)
- [Mich. Comp. Laws § 440.1202 Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.1202.md)
- [Mich. Comp. Laws § 440.1203 Transaction in form of lease; "remaining economic life of the goods" and "reasonably predictable" fair market rent, fair market value, or cost of performing under lease agreement; determination.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.1203.md)
- [Mich. Comp. Laws § 440.1204 Value for rights.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.1204.md)
- [Mich. Comp. Laws § 440.1205 Time for taking action.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.1205.md)
- [Mich. Comp. Laws § 440.1206 Presumption.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.1206.md)
- [Mich. Comp. Laws § 440.1301 Applicability of law of this state or other state or nation; applicability of act to transactions bearing relation to state; provisions specifying applicable law.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.1301.md)
- [Mich. Comp. Laws § 440.1306 Claim or right arising out of alleged breach; discharge.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.1306.md)
- [Mich. Comp. Laws § 440.1307 Prima facie evidence of certain documents.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.1307.md)
- [Mich. Comp. Laws § 440.1309 Accelerating payment or performance or requiring collateral or additional collateral.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.1309.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.8304. Check the current official text before relying on it. Not legal advice.