400.8-208. Effect of signature of authenticating trustee, registrar or transfer agent.
Effect of signature of authenticating trustee, registrar or transferagent.
400.8-208. (a) A person signing a security certificate asauthenticating trustee, registrar, transfer agent or the like, warrants toa purchaser for value of the certificated security, if the purchaser iswithout notice of a particular defect, that:
(1) The certificate is genuine;
(2) The person's own participation in the issue of the security iswithin the person's capacity and within the scope of the authority receivedby the person from the issuer; and
(3) The person has reasonable grounds to believe that thecertificated security is in the form and within the amount the issuer isauthorized to issue.
(b) Unless otherwise agreed, a person signing under subsection (a)does not assume responsibility for the validity of the security in otherrespects.
(L. 1963 p. 503 § 8-208, A.L. 1965 p. 595, A.L. 1992 S.B. 448, A.L. 1997 S.B. 6)