Commercial Code section 8206

(a)

If a security certificate contains the signatures necessary to its issue or transfer but is incomplete in any other respect, the following apply:

(1)

Any person may complete it by filling in the blanks as authorized.

(2)

Even if the blanks are incorrectly filled in, the security certificate as completed is enforceable by a purchaser who took it for value and without notice of the incorrectness.

(b)

A complete security certificate that has been improperly altered, even if fraudulently, remains enforceable, but only according to its original terms.

Source: Section 8206, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=COM§ionNum=8206.­ (updated Jan. 1, 1997; accessed Jun. 25, 2025).

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Verified:
Jun. 25, 2025

§ 8206's source at ca​.gov