Iowa Code

Iowa Code § 554.3306 (2026)

Claims to an instrument

✓ current as of July 2026

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A person taking an instrument, other than a person having rights of a holder in due course, is subject to a claim of a property or possessory right in the instrument or its proceeds, including a claim to rescind a negotiation and to recover the instrument or its proceeds. A person having rights of a holder in due course takes free of the claim to the instrument. 94 Acts, ch 1167, §41, 121, 122 Referred to in §554.3302, 554.3305, 554.3602

Notes of Decisions

Cited in 6 cases (1 in the last 5 years), 1989–2021 · leading case: Agriliance, L.L.C. v. Farmpro Servs., Inc., 328 F. Supp. 2d 958 (S.D. Iowa 2003).

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Agriliance, L.L.C. v. Farmpro Servs., Inc., 328 F. Supp. 2d 958 (S.D. Iowa 2003). · cites it 7× “”); see also Iowa Code § 554.3306 (discussing that “[a] person taking an instrument, other than a person having rights of a holder in due course, is subject to a claim of a property or posses- *965 sory interest in the instrument or its proceeds .”

Agrifund, LLC v. Heartland Co-op, 8 F.4th 660 (8th Cir. 2021). “Iowa 2003)); see Iowa Code § 554.3306 . “To qualify as [a] holder[] in due course, the instrument must have been taken ‘a) for value, b) in good faith, and c) without notice that the instrument is overdue or has been dishonored,’ or of any contrary claim to rights in the…”

Agriliance, L.L.C. v. Runnells Grain Elevator, Inc., 272 F. Supp. 2d 800 (S.D. Iowa 2003). · cites it 2× “Iowa Code § 554.3306 . 8 . It must also be proven that the instrument, when issued, bore no apparent evidence of forgery, that it was not otherwise irregular or *811 incomplete so as to call into question its authenticity, and that the party asserting the defense took the…”

First Nat'l Bank in Lenox v. Creston Livestock Auction, Inc., 447 N.W.2d 132 (Iowa 1989). · cites it 2× “See Iowa Code § 554.3306 . I. The Iowa Code defines a “holder in due course” as follows: 1.”

Matter of Est. of Bolton, 444 N.W.2d 482 (Iowa 1989). · cites it 2× “See Iowa Code § 554.3306 . III. The court of appeals also considered an issue on which we did not grant further review.”

Mattson v. Bolton, 444 N.W.2d 482 (Iowa 1989). · cites it 2× “See Iowa Code § 554.3306 . III. The court of appeals also considered an issue on which we did not grant further review.”

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