Document ID: chunk:federal_register_of_legislation:C2012C00128:section:39
Version: federal_register_of_legislation:C2012C00128
Segment Type: section
Provision Reference: s 39
Character Range: 28619–29266

39  Indorsement in blank and special indorsement

 (1) An indorsement in blank specifies no indorsee, and a bill so indorsed becomes payable to bearer.

 (2) A special indorsement specifies the person to whom, or to whose order, the bill is to be payable.

 (3) The provisions of this Act relating to a payee apply, with the necessary modifications, to an indorsee under a special indorsement.

 (4) When a bill has been indorsed in blank, any holder may convert the blank indorsement into a special indorsement by writing, above the indorser's signature, a direction to pay the bill to or to the order of himself, herself or some other person.