N.Y. Uniform Commercial Code Law Section 3-205
Restrictive Indorsements

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.

Source: Section 3-205 — Restrictive Indorsements, https://www.­nysenate.­gov/legislation/laws/UCC/3-205 (updated Sep. 22, 2014; accessed May 4, 2024).

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Accessed:
May 4, 2024

Last modified:
Sep. 22, 2014

§ 3-205’s source at nysenate​.gov

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