400.8-208. Effect of signature of authenticating trustee, registrar or transfer agent. - Missouri Statutes

Effect of signature of authenticating trustee, registrar or transferagent.

400.8-208. (a) A person signing a security certificate asauthenticating trustee, registrar, transfer agent or the like, warrants toa purchaser for value of the certificated security, if the purchaser iswithout notice of a particular defect, that:

(1) The certificate is genuine;

(2) The person's own participation in the issue of the security iswithin the person's capacity and within the scope of the authority receivedby the person from the issuer; and

(3) The person has reasonable grounds to believe that thecertificated security is in the form and within the amount the issuer isauthorized to issue.

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

(L. 1963 p. 503 § 8-208, A.L. 1965 p. 595, A.L. 1992 S.B. 448, A.L. 1997 S.B. 6)