“Person entitled to enforce” an instrument means (i) the holder of the instrument, (ii) a nonholder in possession of the instrument who has the rights of a holder, or (iii) a person not in possession of the instrument who is entitled to enforce the instrument pursuant to section 42a-3-309 or 42a-3-418(d). A person may be a person entitled to enforce the instrument even though the person is not the owner of the instrument or is in wrongful possession of the instrument.
(1959, P.A. 133, S. 3-301; P.A. 91-304, S. 27.)
History: P.A. 91-304 entirely replaced former provisions re rights of a holder to transfer, negotiate, enforce or discharge an instrument with provisions defining a person entitled to enforce an instrument.
Cited. 238 C. 745. Loan servicer for owner and holder of a note and mortgage had standing in its own right to institute a foreclosure action against mortgagor as a transferee of the holder's rights. 309 C. 307.
Cited. 4 CA 376; 35 CA 326.
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