554.3306 Claims to an instrument. 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. Aperson having rights of a holder in due course takes free of the claim to the instrument. 94 Acts, ch 1167, §41, 121, 122Referred to in §554.3302, 554.3305, 554.3602 Sat Dec 23 01:56:49 2023 Iowa Code 2024, Section 554.3306 (24, 0)
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