3732

VETOES

section and has the rights and privileges of a purchaser under

this section. The warranties of and in favor of the broker acting

as an agent are in addition to applicable warranties given by and
in favor of his customer.

8-307.

[Where] IF a CERTIFICATED security in registered form has
been delivered to a purchaser without a necessary indorsement, he
may become a bona fide purchaser only as of the time the
indorsement is supplied[,]; but against the transferor the
transfer is complete upon delivery and the purchaser has a
specifically enforceable right to have any necessary, indorsement
supplied.

8-308.

(1)     An indorsement of a CERTIFICATED security in
registered form is made when an appropriate person signs on it or
on a separate document an assignment or transfer of the security
or a power to assign or transfer it or [when the] HIS signature
[of such person] is written without more upon the back of ' the
security.

(2)  An indorsement may be in blank or special. An
indorsement in blank includes an indorsement to bearer. A special
indorsement specifies [the person] to whom the security is to be
transferred, or who has power to transfer it. A holder may
convert a blank indorsement into a special indorsement.

(3)  AN INDORSEMENT PURPORTING TO BE ONLY OF PART OF A
CERTIFICATED SECURITY REPRESENTING UNITS INTENDED BY THE ISSUER
TO BE SEPARATELY TRANSFERABLE IS EFFECTIVE TO THE EXTENT OF THE
INDORSEMENT.

(4)  AN "INSTRUCTION" IS AN ORDER TO THE ISSUER OF AN
UNCERTIFICATED SECURITY REQUESTING THAT THE TRANSFER, PLEDGE OR
RELEASE FROM PLEDGE OF THE UNCERTIFICATED SECURITY SPECIFIED
THEREIN BE REGISTERED.

(5)  AN INSTRUCTION ORIGINATED BY AN APPROPRIATE PERSON IS:

(A)  A WRITING SIGNED BY AN APPROPRIATE PERSON; OR

(B)  A COMMUNICATION TO THE ISSUER IN ANY FORM AGREED
UPON IN A WRITING SIGNED BY THE ISSUER AND AN APPROPRIATE PERSON.

IF AN INSTRUCTION HAS BEEN ORIGINATED BY AN APPROPRIATE
PERSON BUT IS INCOMPLETE IN ANY OTHER RESPECT, ANY PERSON MAY
COMPLETE IT AS AUTHORIZED AND THE ISSUER MAY RELY ON IT AS
COMPLETED EVEN THOUGH IT HAS BEEN COMPLETED INCORRECTLY.

[(3)] (6) "An appropriate person" in subsection (1) means
[(a)] the person specified by the CERTIFICATED security or by
special indorsement to be entitled to the security[; or].