408.208 Effect of signature of authenticating trustee, registrar or transfer agent.
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/wi/chapter-408/408-208-9A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
408.208 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 that the issuer is authorized to issue.
(2)Unless otherwise agreed, a person signing under sub.
(1)does not assume responsibility for the validity of the security in other respects.