(a)If an indorsement is made by the holder of an instrument, whether payable to an identified person or payable to bearer, and the indorsement identifies a person to whom it makes the instrument payable, it is a “special indorsement.” When specially indorsed, an instrument becomes payable to the identified person and may be negotiated only by the indorsement of that person. The principles stated in Section 3110 apply to special indorsements.
(b)If an indorsement is made by the
holder of an instrument and it is not a special indorsement, it is a “blank indorsement.” When indorsed in blank, an instrument becomes payable to bearer and may be negotiated by transfer of possession alone until specially indorsed.
(c)The holder may convert a blank indorsement that consists only of a signature into a special indorsement by writing, above the signature of the indorser, words identifying the person to whom the instrument is made payable.
(d)“Anomalous indorsement” means an indorsement made by a person who is not the holder of the instrument. An anomalous indorsement does not affect the manner in which the instrument may be negotiated.
Notes of Decisions
In Re Aniel, 427 B.R. 811 (Bankr. N.D. Cal. 2010).
“Cal. Comm.Code § 3205. 9 In general, this court agrees with the principle that creditors moving for relief from stay should establish a prima facie case that they have standing to enforce the underlying note or obligation.”
Macklin v. Deutsche Bank Nat'l Trust Co. (In re Macklin), 495 B.R. 8 (Bankr. E.D. Cal. 2013).
“Cal. Com.Code §§ 3205(b), 3301. Also, a person may be a holder of a note (and so have standing to do things like bringing a relief from stay motion) even if that person already sold the loan to someone else.”
Smith v. CitiMortgage, Inc. (In re Smith), 509 B.R. 260 (Bankr. N.D. Cal. 2014).
“Under Cal. Comm. Code § 3205 , an endorsement by the holder that identifies a person to whom it makes the instrument payable is a special endorsement; an endorsement made by the holder of an instrument that is not a special endorsement is a blank endorsement; and the holder may…”
In re: Marlow Howard Hooper & Monique Lori Hooper (9th Cir. BAP 2012).
· cites it 3× “Cal. Com. Code § 3205 (b).9 Where a note is endorsed in 14 blank, it becomes “payable to bearer and may be negotiated by 15 transfer of possession until specially indorsed.”
The Bank of New York Mellon v. Davidson (E.D. Cal. 2019).
“See Cal. Com. Code § 3205 (b) 3 (“When indorsed in blank, an instrument becomes payable to bearer and may be negotiated by 4 transfer of possession alone until specially indorsed.”
— Cal. Commercial Code § 3205(b) — 3 cases
Macklin v. Deutsche Bank Nat'l Trust Co. (In re Macklin), 495 B.R. 8 (Bankr. E.D. Cal. 2013).
“Cal. Com.Code §§ 3205(b), 3301. Also, a person may be a holder of a note (and so have standing to do things like bringing a relief from stay motion) even if that person already sold the loan to someone else.”
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