§ 6A-8-205. Effect of unauthorized signature on security certificate.
An unauthorized signature placed on a security certificate before or in the course of issue is ineffective, but the signature is effective in favor of a purchaser for value of the certificated security if the purchaser is without notice of the lack of authority and the signing has been done by:
(1) an authenticating trustee, registrar, transfer agent, or other person entrusted by the issuer with the signing of the security certificate or of similar security certificates, or the immediate preparation for signing of any of them; or
(2) an employee of the issuer, or of any of the persons listed in paragraph (1), entrusted with responsible handling of the security certificate.
History of Section.P.L. 2000, ch. 182, § 5; P.L. 2000, ch. 420, § 5.
Structure Rhode Island General Laws
Title 6A - Uniform Commercial Code
Chapter 6A-8 - Investment Securities
Section 6A-8-202. - Issuer’s responsibility and defenses — Notice of defect or defense.
Section 6A-8-203. - Staleness as notice of defect or defense.
Section 6A-8-204. - Effect of issuer’s restriction on transfer.
Section 6A-8-205. - Effect of unauthorized signature on security certificate.
Section 6A-8-206. - Completion of alteration of security certificate.
Section 6A-8-207. - Rights and duties of issuer with respect to registered owners.
Section 6A-8-208. - Effect of signature of authenticating trustee, registrar, or transfer agent.