§ 8-208. 8-208
123 words·~1 min read·
/us/ucc/a8/s8-208A 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.