47-8205. 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.
Section: Previous 47-8114 47-8115 47-8116 47-8201 47-8202 47-8203 47-8204 47-8205 47-8206 47-8207 47-8208 47-8209 47-8210 47-8301 47-8302 NextLast modified: October 13, 2016