Sec. 45.08.208. Effect of signature of authenticating trustee, registrar, or transfer agent.

136 words·~1 min read·/ak/title-45/chapter-8/45-08-208

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)A person signing a security certificate as authenticating trustee, registrar, transfer agent, or the like, warrants to a purchaser for value of the certificated security, if the purchaser is without notice of the particular defect, that

(1)the certificate is genuine;

(2)the person's own participation in the issue of the security is within the person's capacity and within the scope of the authority received by the person from the issuer; and

(3)the person has reasonable grounds to believe that the certificated security is in the form and within the amount the issuer is authorized to issue.

(b)Unless otherwise agreed, a person signing under

(a)of this section does not assume responsibility for the validity of the security in other respects.