{"code":"COM","codeName":"Commercial Code","section":"3306","citation":"Com. Code, § 3306","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 3. NEGOTIABLE INSTRUMENTS [3101. - 3605.]","url":"https://blackletter.si/commercial-code/division-3"},{"name":"CHAPTER 3. Enforcement of Instruments [3301. - 3312.]","url":"https://blackletter.si/commercial-code/division-3/chapter-3"}],"history":"Repealed and added by Stats. 1992, Ch. 914, Sec. 6.   Effective January 1, 1993.","effective":"1993-01-01","html":"<p>A person taking an instrument, other than a person having rights of a holder in due course, is subject to a claim of a property or possessory right in the instrument or its proceeds, including a claim to rescind a negotiation and to recover the instrument or its proceeds. A person having rights of a holder in due course takes free of the claim to the instrument.</p>","text":"A person taking an instrument, other than a person having rights of a holder in due course, is subject to a claim of a property or possessory right in the instrument or its proceeds, including a claim to rescind a negotiation and to recover the instrument or its proceeds. A person having rights of a holder in due course takes free of the claim to the instrument.","otherVersions":[],"url":"https://blackletter.si/commercial-code/enforcement-of-instruments-3306","source":"California Legislative Information bulk export (pubinfo)"}