Statute · New York Uniform Commercial Code

N.Y. U.C.C. Law § 3-405 — Impostors; Signature in Name of Payee

N.Y. U.C.C. Law § 3-405

Type: Statute
Source: New York Uniform Commercial Code
Jurisdiction: New York
Current through: Nov 5, 2026 (NY Senate Open Legislation)

Section 3--405. Impostors; Signature in Name of Payee.

Citator

N.Y. U.C.C. Law § 3-405 — Impostors; Signature in Name of Payee is in force in the current edition of the Code, and nothing recorded condemns it.

Section 3--405. Impostors; Signature in Name of Payee.

(1) An indorsement by any person in the name of a named payee is effective if

(a) an impostor by use of the mails or otherwise has induced the

maker or drawer to issue the instrument to him or his

confederate in the name of the payee; or

(b) a person signing as or on behalf of a maker or drawer intends

the payee to have no interest in the instrument; or

(c) an agent or employee of the maker or drawer has supplied him

with the name of the payee intending the latter to have no

such interest.

(2) Nothing in this section shall affect the criminal or civil liability of the person so indorsing.