# Wis. Stat. § 408.304: Endorsement

> Wisconsin · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.304

## Section

- **Citation:** Wis. Stat. § 408.304
- **Heading:** Endorsement
- **Jurisdiction:** Wisconsin
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** WI Code / Chapter 408 / Section 408.304

## Text

(1) An endorsement may be in blank or special. An endorsement in blank includes an endorsement to bearer. A special endorsement specifies to whom a security is to be transferred or who has power to transfer it. A holder may convert a blank endorsement to a special endorsement.

(2) An endorsement purporting to be only an endorsement of part of a security certificate representing units intended by the issuer to be separately transferable is effective to the extent of the endorsement.

(3) An endorsement, whether special or in blank, does not constitute a transfer until delivery of the certificate on which it appears or, if the endorsement is on a separate document, until delivery of both the document and the certificate.

(4) If a security certificate in registered form has been delivered to a purchaser without a necessary endorsement, the purchaser may become a protected purchaser only when the endorsement is supplied. However, against a transferor, a transfer is complete upon delivery and the purchaser has a specifically enforceable right to have any necessary endorsement supplied.

(5) An endorsement 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.

(6) Unless otherwise agreed, a person making an endorsement assumes only the obligations provided in s. 408.108 and not an obligation that the security will be honored by the issuer.

History: 1997 a. 297 .

## Nearby sections

- [Wis. Stat. § 408.101 Short title.](https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.101.md)
- [Wis. Stat. § 408.102 Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.102.md)
- [Wis. Stat. § 408.103 Rules for determining whether certain obligations and interests are securities or financial assets.](https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.103.md)
- [Wis. Stat. § 408.104 Acquisition of security or financial asset or interest therein.](https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.104.md)
- [Wis. Stat. § 408.105 Notice of adverse claim.](https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.105.md)
- [Wis. Stat. § 408.106 Control.](https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.106.md)
- [Wis. Stat. § 408.107 Whether endorsement, instruction or entitlement order is effective.](https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.107.md)
- [Wis. Stat. § 408.108 Warranties in direct holding.](https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.108.md)
- [Wis. Stat. § 408.109 Warranties in indirect holding.](https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.109.md)
- [Wis. Stat. § 408.110 Applicability; choice of law.](https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.110.md)
- [Wis. Stat. § 408.111 Clearing corporation rules.](https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.111.md)
- [Wis. Stat. § 408.112 Creditor’s legal process.](https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.112.md)
- [Wis. Stat. § 408.113 Statute of frauds inapplicable.](https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.113.md)
- [Wis. Stat. § 408.114 Evidentiary rules concerning certificated securities.](https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.114.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_WI_C408_S408.304. Check the current official text before relying on it. Not legal advice.