Article 146. Transfer of rights in a security.

1. In order to transfer to another person the rights certified by a bearer security, it is sufficient to hand over the security to that person. 2. The rights certified by a registered security shall be transferred in the manner established for the assignment of claims (cession). In accordance with Article 390 of this Code, the person transferring the right to a security is responsible for the invalidity of the relevant requirement, but not for its non-performance. 3. Rights on the order security are transferred by making a transfer inscription on this paper - an endorsement. The endorser is responsible not only for the existence of the right, but also for its implementation. An endorsement made on a security transfers all the rights certified by the security to the person to whom or to whose order the rights under the security are transferred - the endorsee. An endorsement may be blank (without indicating the person to whom the execution should be effected) or order (indicating the person to whom or the order of which the execution should be effected). An endorsement may be limited only by the assignment to exercise the rights certified by the security, without transferring these rights to the endorsee (the entrusting endorsement). In this case, the endorsee acts as a representative.

<< Article 145 TKRF Back to table of contents Article 147 TKRF >>

References to other articles of chapter 7. Securities:
Article 142. Valuable paper.
Article 143. Types of securities.
Article 144. Requirements for a security.
Article 145. Subjects of rights certified by a security.
Article 147. Execution of a security.
Article 148. Recovery of a security.
Article 149. Non-documentary securities.