30-8-218. Effect of signature of authenticating trustee, registrar, or transfer agent.
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/mt/title-30/chapter-8/part-2/30-8-218·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
30-8-218 . Effect of signature of authenticating trustee, registrar, or transfer agent.
(1)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:
(a)the certificate is genuine;
(b)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
(c)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.
(2)Unless otherwise agreed, a person signing under subsection
(1)does not assume responsibility for the validity of the security in other respects.