(1) Unless otherwise provided in this article or Article 4 of this chapter, an unauthorized signature is ineffective except as the signature of the unauthorized signer in favor of a person who in good faith pays the instrument or takes it for value. An unauthorized signature may be ratified for all purposes of this article.
(2) If the signature of more than one (1) person is required to constitute the authorized signature of an organization, the signature of the organization is unauthorized if one of the required signatures is lacking.
(3) The civil or criminal liability of a person who makes an unauthorized signature is not affected by any provision of this article which makes the unauthorized signature effective for the purposes of this article. Effective: January 1, 1997 History: Repealed and reenacted 1996 Ky. Acts ch. 130, sec. 41, effective January 1, 1997. -- Created 1958 Ky. Acts ch. 77, sec. 3-403, effective July 1, 1960.
Notes of Decisions
Richardson v. First Nat'l Bank of Louisville, 660 S.W.2d 678 (Ky. Ct. App. 1983).
· cites it 3× “Under Subsection (2)(a) of KRS 355.3-403, the appellants are personally liable on the note in that there is no indication that they signed in a representative capacity.”
Enzweiler v. Peoples Deposit Bank of Burlington, 742 S.W.2d 569 (Ky. Ct. App. 1987).
· cites it 2× “Even if he was authorized at that time to make this loan, which we deny for rationales stated earlier, we need look only to KRS 355.3-403(2) which states: *571 An authorized representative who signs his own name to an instrument (a) is personally obligated if the instrument…”
Burrus v. Farmers Bank of Nicholasville, 938 S.W.2d 889 (Ky. Ct. App. 1997).
· cites it 2× “Because the Burruses did not sign the note indicating their representative capacities, but the note did name the entity represented, KRS 355.3-403(2)(b) applies to this case.”
— Ky. Rev. Stat. § 355.3-403(2) — 2 cases
Richardson v. First Nat'l Bank of Louisville, 660 S.W.2d 678 (Ky. Ct. App. 1983).
“Under Subsection (2)(a) of KRS 355.3-403, the appellants are personally liable on the note in that there is no indication that they signed in a representative capacity.”
Enzweiler v. Peoples Deposit Bank of Burlington, 742 S.W.2d 569 (Ky. Ct. App. 1987).
“Even if he was authorized at that time to make this loan, which we deny for rationales stated earlier, we need look only to KRS 355.3-403(2) which states: *571 An authorized representative who signs his own name to an instrument (a) is personally obligated if the instrument…”
— Ky. Rev. Stat. § 355.3-403(2)(a) — 2 cases
Enzweiler v. Peoples Deposit Bank of Burlington, 742 S.W.2d 569 (Ky. Ct. App. 1987).
“Even if he was authorized at that time to make this loan, which we deny for rationales stated earlier, we need look only to KRS 355.3-403(2) which states: *571 An authorized representative who signs his own name to an instrument (a) is personally obligated if the instrument…”
— Ky. Rev. Stat. § 355.3-403(2)(b) — 1 case
Burrus v. Farmers Bank of Nicholasville, 938 S.W.2d 889 (Ky. Ct. App. 1997).
“Because the Burruses did not sign the note indicating their representative capacities, but the note did name the entity represented, KRS 355.3-403(2)(b) applies to this case.”
— Ky. Rev. Stat. § 355.3-403(b) — 1 case
Richardson v. First Nat'l Bank of Louisville, 660 S.W.2d 678 (Ky. Ct. App. 1983).
“Under Subsection (2)(a) of KRS 355.3-403, the appellants are personally liable on the note in that there is no indication that they signed in a representative capacity.”
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