N.Y. U.C.C. Law § 3-205

Current through 2024 NY Law Chapter 456
Section 3-205 - Restrictive Indorsements

An indorsement is restrictive which either

(a) is conditional; or
(b) purports to prohibit further transfer of the instrument; or
(c) includes the words "for collection", "for deposit", "pay any bank", or like terms signifying a purpose of deposit or collection; or
(d) otherwise states that it is for the benefit or use of the indorser or of another person.

N.Y. U.c.c. Law § 3-205