408.208 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 that the issuer is authorized to issue.
(2) Unless otherwise agreed, a person signing under sub. (1) does not assume responsibility for the validity of the security in other respects.
History: 1997 a. 297.
Structure Wisconsin Statutes & Annotations
Wisconsin Statutes & Annotations
Chapter 408 - Uniform commercial code — investment securities.
408.104 - Acquisition of security or financial asset or interest therein.
408.105 - Notice of adverse claim.
408.107 - Whether endorsement, instruction or entitlement order is effective.
408.108 - Warranties in direct holding.
408.109 - Warranties in indirect holding.
408.110 - Applicability; choice of law.
408.111 - Clearing corporation rules.
408.112 - Creditor's legal process.
408.113 - Statute of frauds inapplicable.
408.114 - Evidentiary rules concerning certificated securities.
408.115 - Securities intermediary and others not liable to adverse claimant.
408.116 - Securities intermediary as purchaser for value.
408.202 - Issuer's responsibility and defenses; notice of defect or defense.
408.203 - Staleness as notice of defect or defense.
408.204 - Effect of issuer's restriction on transfer.
408.205 - Effect of unauthorized signature on security certificate.
408.206 - Completion or alteration of security certificate.
408.207 - Rights and duties of issuer with respect to registered owners.
408.208 - Effect of signature of authenticating trustee, registrar or transfer agent.
408.302 - Rights of purchaser.
408.303 - Protected purchaser.
408.306 - Effect of guaranteeing signature, endorsement or instruction.
408.307 - Purchaser's right to requisites for registration of transfer.
408.401 - Duty of issuer to register transfer.
408.402 - Assurance that endorsement or instruction is effective.
408.403 - Demand that issuer not register transfer.
408.404 - Wrongful registration.
408.405 - Replacement of lost, destroyed or wrongfully taken security certificate.
408.406 - Obligation to notify issuer of lost, destroyed or wrongfully taken security certificate.
408.407 - Authenticating trustee, transfer agent and registrar.
408.501 - Securities account; acquisition of security entitlement from securities intermediary.
408.502 - Assertion of adverse claim against entitlement holder.
408.504 - Duty of securities intermediary to maintain financial asset.
408.505 - Duty of securities intermediary with respect to payments and distributions.
408.506 - Duty of securities intermediary to exercise rights as directed by entitlement holder.
408.507 - Duty of securities intermediary to comply with entitlement order.
408.510 - Rights of purchaser of security entitlement from entitlement holder.
408.511 - Priority among security interests and entitlement holders.