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Illinois Compiled Statutes

810 ILCS 5/3-203 (2026)

Transfer of instrument; rights acquired by transfer

✓ current as of May 2026
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(810 ILCS 5/3-203) (from Ch. 26, par. 3-203)
    Sec. 3-203. Transfer of instrument; rights acquired by transfer.
    (a) An instrument is transferred when it is delivered by a person other than its issuer for the purpose of giving to the person receiving delivery the right to enforce the instrument.
    (b) Transfer of an instrument, whether or not the transfer is a negotiation, vests in the transferee any right of the transferor to enforce the instrument, including any right as a holder in due course, but the transferee cannot acquire rights of a holder in due course by a transfer, directly or indirectly, from a holder in due course if the transferee engaged in fraud or illegality affecting the instrument.
    (c) Unless otherwise agreed, if an instrument is transferred for value and the transferee does not become a holder because of lack of indorsement by the transferor, the transferee has a specifically enforceable right to the unqualified indorsement of the transferor, but negotiation of the instrument does not occur until the indorsement is made.
    (d) If a transferor purports to transfer less than the entire instrument, negotiation of the instrument does not occur. The transferee obtains no rights under this Article and has only the rights of a partial assignee.
(Source: P.A. 87-582; 87-1135.)

    
Notes of Decisions
Cited in 7 cases (1 in the last 5 years), 1994–2023 · leading case: Helms v. Roti (In Re Roti), 271 B.R. 281 (Bankr. N.D. Ill. 2002).
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Helms v. Roti (In Re Roti), 271 B.R. 281 (Bankr. N.D. Ill. 2002). “See 810 ILCS 5/3-203, 5/3-104, 5/3-109 and 5/3-204.”
Northbrook Bank & Trust Co. v. Abbas, 2018 IL App (1st) 162972 (Ill. App. Ct. 2018). “See 810 ILCS 5/3-203(a) (West 2014) (an instrument is transferred by delivery of the instrument by a person other than its issuer for the purpose of giving to the person receiving delivery the right to enforce the instrument).”
Bachner v. Illinois Ex Rel. Illinois Student Assistance Comm'n (In Re Bachner), 165 B.R. 875 (Bankr. N.D. Ill. 1994). “See 810 ILCS 5/3-203(b) (stating that the transfer of an instrument vests in the transferee any right of the transferor to enforce the instrument).”
W. & Lake Check Cashers, LLC v. Propane Pete, LLC, 2023 IL App (2d) 220291 (Ill. App. Ct. 2023). “¶ 43 Two sections of the Code are applicable here: (1) section 3-203 (810 ILCS 5/3-203(a) (West 2020)) and (2) section 3-416 (id.”
Deutsche Nat'l Trust Co. v. Billups, 2020 IL App (1st) 191934-U (Ill. App. Ct. 2020). “See 810 ILCS 5/3-203 (West 2018) (“Transfer of an interest *** vests in the transferee any right of the transferor to enforce the instrument, including any right as a holder in due course”); Mortgage Electronic Registration Systems, Inc.”
Deutsche Bank Nat'l Trust Co. v. Muhammad, 2019 IL App (1st) 182077-U (Ill. App. Ct. 2019). · cites it 2× “” 810 ILCS 5/3-203, Committee Comments (West 2018).”
Strosberg v. Brauvin Realty Servs., Inc. (Ill. App. Ct. 1998). · cites it 3× “See 810 ILCS 5/3-203, Uniform Commercial Code Comment, at 81 (West 1996) (the right to payment is represented by the negotiable instrument).”
— 810 ILCS 5/3-203(a) — 3 cases
Northbrook Bank & Trust Co. v. Abbas, 2018 IL App (1st) 162972 (Ill. App. Ct. 2018). “See 810 ILCS 5/3-203(a) (West 2014) (an instrument is transferred by delivery of the instrument by a person other than its issuer for the purpose of giving to the person receiving delivery the right to enforce the instrument).”
W. & Lake Check Cashers, LLC v. Propane Pete, LLC, 2023 IL App (2d) 220291 (Ill. App. Ct. 2023). “¶ 43 Two sections of the Code are applicable here: (1) section 3-203 (810 ILCS 5/3-203(a) (West 2020)) and (2) section 3-416 (id.”
Strosberg v. Brauvin Realty Servs., Inc. (Ill. App. Ct. 1998). “See 810 ILCS 5/3-203, Uniform Commercial Code Comment, at 81 (West 1996) (the right to payment is represented by the negotiable instrument).”
— 810 ILCS 5/3-203(b) — 2 cases
Bachner v. Illinois Ex Rel. Illinois Student Assistance Comm'n (In Re Bachner), 165 B.R. 875 (Bankr. N.D. Ill. 1994). “See 810 ILCS 5/3-203(b) (stating that the transfer of an instrument vests in the transferee any right of the transferor to enforce the instrument).”
Deutsche Bank Nat'l Trust Co. v. Muhammad, 2019 IL App (1st) 182077-U (Ill. App. Ct. 2019). “” 810 ILCS 5/3-203, Committee Comments (West 2018).”
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