§ 8-208
126 words·~1 min read·
/md/commercial-law/8-208A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§8–208.
(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)of this section does not assume responsibility for the validity of the security in other respects.