N.Y. U.C.C. 3-205

Section 3--205. Restrictive Indorsements.\n An indorsement is restrictive which either\n (a) is conditional; or\n (b) purports to prohibit further transfer of the instrument; or\n (c) includes the words "for collection", "for deposit", "pay any\nbank", or like terms signifying a purpose of deposit or collection; or\n (d) otherwise states that it is for the benefit or use of the indorser\nor of another person.\n