§ 8208. Effect of signature of authenticating trustee,
registrar or transfer agent.
(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.
Structure Pennsylvania Consolidated & Unconsolidated Statutes
Pennsylvania Consolidated & Unconsolidated Statutes
Section 8202 - Issuer's responsibility and defenses; notice of defect or defense
Section 8203 - Staleness as notice of defect or defense
Section 8204 - Effect of issuer's restriction on transfer
Section 8205 - Effect of unauthorized signature on security certificate
Section 8206 - Completion or alteration of security certificate
Section 8207 - Rights and duties of issuer with respect to registered owners
Section 8208 - Effect of signature of authenticating trustee, registrar or transfer agent