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Searching 2023-2024 Session

The Vermont Statutes Online

The Vermont Statutes Online have been updated to include the actions of the 2023 session of the General Assembly.

NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.

Title 9A : Uniform Commercial Code

Article 008 : Investment Securities

(Cite as: 9A V.S.A. § 8-114)
  • § 8—114. Evidentiary rules concerning certificated securities

    The following rules apply in an action on a certificated security against the issuer:

    (1) Unless specifically denied in the pleadings, each signature on a security certificate or in a necessary indorsement is admitted.

    (2) If the effectiveness of a signature is put in issue, the burden of establishing effectiveness is on the party claiming under the signature, but the signature is presumed to be genuine or authorized.

    (3) If signatures on a security certificate are admitted or established, production of the certificate entitles a holder to recover on it unless the defendant establishes a defense or a defect going to the validity of the security.

    (4) If it is shown that a defense or defect exists, the plaintiff has the burden of establishing that the plaintiff or some person under whom the plaintiff claims is a person against whom the defense or defect cannot be asserted. (Added 1995, No. 92 (Adj. Sess.), § 1, eff. Jan. 1, 1997.)