Arizona Laws 47-8206. Completion or alteration of security certificate
A. If a security certificate contains the signatures necessary to its issue or transfer but is incomplete in any other respect:
Terms Used In Arizona Laws 47-8206
- Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
- Security: except as otherwise provided in section 47-8103, means an obligation of an issuer or a share, participation or other interest in an issuer or in property or an enterprise of an issuer:
(a) Which is represented by a security certificate in bearer or registered form, or the transfer of which may be registered upon books maintained for that purpose by or on behalf of the issuer;
(b) Which is one of a class or series or by its terms is divisible into a class or series of shares, participations, interests or obligations; and
(c) Which:
(i) Is, or is of a type, dealt in or traded on securities exchanges or securities markets; or
(ii) Is a medium for investment and by its terms expressly provides that it is a security governed by this chapter. See Arizona Laws 47-8102
- Security certificate: means a certificate representing a security. See Arizona Laws 47-8102
1. Any person may complete it by filling in the blank as authorized; and
2. Even if the blanks are incorrectly filled in, the security certificate as completed is enforceable by a purchaser who took it for value and without notice of the incorrectness.
B. A complete security certificate that has been improperly altered, even if fraudulently, remains enforceable, but only according to its original terms.