Pennsylvania § 8208 Effect of signature of authenticating trustee, registrar or transfer agent

Pennsylvania Statutes

§ 8208 — Effect of signature of authenticating trustee, registrar or transfer agent

Pennsylvania·Title 13 COMMERCIAL CODE·Ch. 82 ISSUE AND ISSUER

(a)General rule.--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:

(1)the certificate is genuine;

(2)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

(3)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.

(b)Limitation.--Unless otherwise agreed, a person signing under subsection (a) does not assume responsibility for the validity of the security in other respects.

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(a) General rule.--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:

(1) the certificate is genuine;

(2) 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

(3) 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.

(b) Limitation.--Unless otherwise agreed, a person signing under subsection (a) does not assume responsibility for the validity of the security in other respects.

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