Article 422 of Commercial Code

1 - The endorsement shall be written on the bill of exchange itself or on another sheet attached thereto and shall be signed by the endorser. 2 - An endorsement subsequent to maturity shall produce the effects of an endorsement prior thereto. However, an endorsement subsequent to a protest for non-payment or made after the expiry of the statutory time limit prescribed for drawing up the protest shall produce only the effects of an assignment of rights. 3 - An undated endorsement shall be presumed to have been made before the expiry of the time limit prescribed for drawing up the protest, unless otherwise proven.