§12A-8-208. Effect of Signature of Authenticating Trustee,
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Registrar, or Transfer Agent.
Effect of Signature of Authenticating Trustee, Registrar, or Transfer Agent.
(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. Added by Laws 1961, p. 154, § 8-208. Amended by Laws 1984, c. 76, § 17, eff. Nov. 1, 1984; Laws 1995, c. 242, § 24, eff. Feb. 1, 1996.