Plain Text Law

§ 3–306

Statutes in effect as of October 1, 2026.

Md. Code Ann., Com. Law § 3-306 (2026)
Title 3. Negotiable Instruments
Subtitle 3. Enforcement of Instruments

§ 3–306Copy Citation

A person taking an instrument, other than a person having rights of a holder in due course, is subject to a claim of a property or possessory right in the instrument or its proceeds, including a claim to rescind a negotiation and to recover the instrument or its proceeds. A person having rights of a holder in due course takes free of the claim to the instrument.