The following rules apply in an action on a certificated security against the issuer:
(A) Unless specifically denied in the pleadings, each signature on a security certificate
or in a necessary indorsement is admitted;
(B) If the effectiveness of a signature is put in issue, the burden of establishing
effectiveness is on the party claiming under the signature, but the signature is presumed
to be genuine or authorized;
(C) If signatures on a security certificate are admitted or established, production
of the certificate entitles a holder to recover on it unless the defendant establishes
a defense or a defect going to the validity of the security;
(D) If it is shown that a defense or defect exists, the plaintiff has the burden of
establishing that the plaintiff or some person under whom the plaintiff claims is
a person against whom the defense or defect cannot be asserted.
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