§ 8208. Effect of signature of authenticating trustee, registrar or transfer agent.
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§ 8208. Effect of signature of authenticating trustee, registrar or transfer agent.
(a)General rule.-- 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)Limitation.-- Unless otherwise agreed, a person signing under subsection
(a)does not assume responsibility for the validity of the security in other respects.
13c8209s