§ 554.8205 — Effect of unauthorized signature on security certificate

Iowa § 554.8205

• Jurisdiction: Iowa
• Title XIII: COMMERCE
• Ch. 554: UNIFORM COMMERCIAL CODE

Text

An unauthorized signature placed on a security certificate before or in the course of issue
is ineffective, but the signature is effective in favor of a purchaser for value of the certificated
security if the purchaser is without notice of the lack of authority and the signing has been
done by:
1. an authenticating trustee, registrar, transfer agent, or other person entrusted by the
issuer with the signing of the security certificate or of similar security certificates, or the
immediate preparation for signing of any of them; or
2. an employee of the issuer, or of any of the persons listed in subsection 1, entrusted with
responsible handling of the security certificate.

Legislative History

[S13, §3060-a23; C24, 27, 31, 35, 39, §9483; C46, 50, 54, 58, 62, §541.23; C66, 71, 73, 75, 77, 79, 81, §554.8205]