28-8-208. EFFECT OF SIGNATURE OF AUTHENTICATING TRUSTEE, REGISTRAR OR TRANSFER 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) of this section does not assume responsibility for the validity of the security in other respects.
History:
[28-8-208, added 1995, ch. 272, sec. 2, p. 888.]
Structure Idaho Code
Title 28 - COMMERCIAL TRANSACTIONS
Chapter 8 - INVESTMENT SECURITIES
Section 28-8-202 - ISSUER’S RESPONSIBILITY AND DEFENSES AND NOTICE OF DEFECT OR DEFENSE.
Section 28-8-203 - STALENESS AS NOTICE OF DEFECT OR DEFENSE.
Section 28-8-204 - EFFECT OF ISSUER’S RESTRICTION ON TRANSFER.
Section 28-8-205 - EFFECT OF UNAUTHORIZED SIGNATURE ON SECURITY CERTIFICATE.
Section 28-8-206 - COMPLETION OR ALTERATION OF SECURITY CERTIFICATE.
Section 28-8-207 - RIGHTS AND DUTIES OF ISSUER WITH RESPECT TO REGISTERED OWNERS.
Section 28-8-208 - EFFECT OF SIGNATURE OF AUTHENTICATING TRUSTEE, REGISTRAR OR TRANSFER AGENT.