70A-8-208 - Effect of signature of authenticating trustee, registrar, or transfer agent.
70A-8-208. Effect of signature of authenticating trustee, registrar, or transferagent.
(1) A person signing a security certificate as authenticating trustee, registrar, transferagent, or the like, warrants to a purchaser for value of the certificated security, if the purchaser iswithout 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'scapacity 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 theform and within the amount the issuer is authorized to issue.
(2) Unless otherwise agreed, a person signing under Subsection (1) does not assumeresponsibility for the validity of the security in other respects.
Repealed and Re-enacted by Chapter 204, 1996 General Session