§ 8—208.
149 words·~1 min read·
/vt/8-24A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 8—208. 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 1995, No. 92 (Adj. Sess.), § 1, eff. Jan. 1, 1997.)