§ 41-08-24 — (8-208) Effect of signature of authenticating trustee, registrar, or transfer agent

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;
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
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.
2. Unless otherwise agreed, a person signing under subsection 1 does not assume
responsibility for the validity of the security in other respects.