(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) of this section does not assume responsibility for the validity of the security in other respects. [1961 c.726 §78.2080; 1985 c.676 §78.2080; 1995 c.328 §24]
Structure 2021 Oregon Revised Statutes
Volume : 02 - Business Organizations, Commercial Code
Chapter 078 - Investment Securities
Section 78.1020 - Definitions and index of definitions.
Section 78.1040 - Acquisition of security or financial asset or interest therein.
Section 78.1050 - Notice of adverse claim.
Section 78.1070 - Whether indorsement, instruction or entitlement order is effective.
Section 78.1080 - Warranties in direct holding.
Section 78.1090 - Warranties in indirect holding.
Section 78.1100 - Applicability; choice of law.
Section 78.1110 - Clearing corporation rules.
Section 78.1120 - Creditor’s legal process.
Section 78.1140 - Evidentiary rules concerning certificated securities.
Section 78.1150 - Securities intermediary and others not liable to adverse claimant.
Section 78.2030 - Staleness as notice of defects or defenses.
Section 78.2040 - Effect of issuer’s restriction on transfer.
Section 78.2050 - Effect of unauthorized signature on security certificate.
Section 78.2060 - Completion or alteration of security certificate.
Section 78.2070 - Rights of issuer with respect to registered owners.
Section 78.2080 - Effect of signature of authenticating trustee, registrar or transfer agent.
Section 78.3020 - Rights of purchaser.
Section 78.3030 - "Protected purchaser."
Section 78.3040 - Indorsement.
Section 78.3050 - Instruction.
Section 78.3060 - Effect of guaranteeing signature, indorsement or instruction.
Section 78.4010 - Duty of issuer to register transfer.
Section 78.4020 - Assurance that indorsement or instruction is effective.
Section 78.4030 - Demand that issuer not register transfer.
Section 78.4040 - Wrongful registration.
Section 78.4050 - Replacement of lost, destroyed or wrongfully taken security certificate.
Section 78.5040 - Duty of securities intermediary to maintain financial asset.
Section 78.5050 - Duty of securities intermediary with respect to payments and distributions.
Section 78.5070 - Duty of securities intermediary to comply with entitlement order.
Section 78.5100 - Rights of purchaser of security entitlement from entitlement holder.
Section 78.5110 - Priority among security interests and entitlement holders.