Iowa Code

Iowa Code § 554.3407 (2026)

Alteration

✓ current as of July 2026

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1. “Alteration” means an unauthorized change in an instrument that purports to modify in any respect the obligation of a party, or an unauthorized addition of words or numbers or other change to an incomplete instrument relating to the obligation of a party.

2. Except as provided in subsection 3, an alteration fraudulently made discharges a party\n\nTue Dec 09 22:02:40 2025 Iowa Code 2026, Chapter 554 (108, 4) 73 UNIFORM COMMERCIAL CODE, §554.3411\n\nwhose obligation is affected by the alteration unless that party assents or is precluded from asserting the alteration. No other alteration discharges a party, and the instrument may be enforced according to its original terms.

3. A payor bank or drawee paying a fraudulently altered instrument or a person taking it for value, in good faith and without notice of the alteration, may enforce rights with respect to the instrument according to its original terms, or in the case of an incomplete instrument altered by unauthorized completion, according to its terms as completed. 94 Acts, ch 1167, §54, 121, 122; 2013 Acts, ch 30, §261 Referred to in §554.3103, 554.3115, 554.3412, 554.3413, 554.3414, 554.3415, 554.4104, 554.4207 \n

Notes of Decisions

Cited in 2 cases, 1991–1992 · leading case: Nat'l Loan Investors, L.P. v. Martin, 488 N.W.2d 163 (Iowa 1992).

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Nat'l Loan Investors, L.P. v. Martin, 488 N.W.2d 163 (Iowa 1992). · cites it 6× “Since we find William signed the notes, his signatures are not “ ‘unauthorized’ signature[s] or endórsemenos]” which could constitute forgery under our commercial code, Iowa Code section 554.”

Walker v. Cross, 473 N.W.2d 45 (Iowa 1991). · cites it 14× “See Iowa Code § 554.3407 (2)(b) (“[altered] instrument may be enforced according to its original tenor,” i.”

— Iowa Code § 554.3407(2)(b) — 1 case

Walker v. Cross, 473 N.W.2d 45 (Iowa 1991). “See Iowa Code § 554.3407 (2)(b) (“[altered] instrument may be enforced according to its original tenor,” i.”

— Iowa Code § 554.3407(3) — 1 case

Nat'l Loan Investors, L.P. v. Martin, 488 N.W.2d 163 (Iowa 1992). “Since we find William signed the notes, his signatures are not “ ‘unauthorized’ signature[s] or endórsemenos]” which could constitute forgery under our commercial code, Iowa Code section 554.”

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