§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;
[PL 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
[PL 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.
[PL 1997, c. 429, Pt. B, §2 (NEW).]
[PL 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.
[PL 1997, c. 429, Pt. B, §2 (NEW).]
SECTION HISTORY
PL 1997, c. 429, §B2 (NEW).