11 §8-1208. Effect of signature of authenticating trustee, registrar or transfer agent
Title 11: UNIFORM COMMERCIAL CODE
Article 8-A: INVESTMENT SECURITIES HEADING: PL 1997, C. 429, PT. B, §2 (NEW)
Part 2: ISSUE AND ISSUER HEADING: PL 1997, C. 429, PT. B, §2 (NEW)
§8-1208. 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; [1997, c. 429, Pt. B, §2 (NEW).]
(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 [1997, c. 429, Pt. B, §2 (NEW).]
(c). 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. [1997, c. 429, Pt. B, §2 (NEW).]
[ 1997, c. 429, Pt. B, §2 (NEW) .]
(2). Unless otherwise agreed, a person signing under subsection (1) does not assume responsibility for the validity of the security in other respects.
[ 1997, c. 429, Pt. B, §2 (NEW) .]
SECTION HISTORY
1997, c. 429, §B2 (NEW).