84-8-208. Effect of signature of authenticating trustee, registrar or transfer agent.

133 words·~1 min read·/ks/chapter-84/84-8-208

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 a 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 subsection

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