Effect of Signature of Authenticating Trustee, Registrar, or Transfer Agent.

  1. Law
  2. Oklahoma Statutes
  3. Commercial Code
  4. Effect of Signature of Authenticating Trustee, Registrar, or Transfer Agent.

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Effect of Signature of Authenticating Trustee, Registrar, or Transfer Agent.

(a) 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) Unless otherwise agreed, a person signing under subsection (a) of this section does not assume responsibility for the validity of the security in other respects.

Added by Laws 1961, p. 154, § 8-208. Amended by Laws 1984, c. 76, § 17, eff. Nov. 1, 1984; Laws 1995, c. 242, § 24, eff. Feb. 1, 1996.


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