The Vermont Statutes Online
The Statutes below include the actions of the 2025 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.
(Cite as: 9A V.S.A. § 3-207)
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§ 3—207. Reacquisition
Reacquisition of an instrument occurs if it is transferred to a former holder, by
negotiation or otherwise. A former holder who reacquires the instrument may cancel
indorsements made after the reacquirer first became a holder of the instrument. If
the cancellation causes the instrument to be payable to the reacquirer or to bearer,
the reacquirer may negotiate the instrument. An indorser whose indorsement is cancelled
is discharged, and the discharge is effective against any subsequent holder. (Added 1993, No. 158 (Adj. Sess.), § 12, eff. Jan. 1, 1995.)