Michigan Compiled Laws 174-1962-8-2 Part 2 Issue—issuer (440.8201...440.8210)
- Section 440.8201 “issuer” Defined.
(1) With respect to an obligation on or a defense to a security, an “issuer” includes a person that does 1 or more of...
- Section 440.8202 Terms Of Security; Effect Of Defect Going To Validity Of Security; Rules; Defenses; Right Of Party To Cancel Contract.
(1) Even against a purchaser for value and without notice, the terms of a certified security include terms stated on the certificate and terms...
- Section 440.8203 Conditions To Charging Purchaser With Notice Of Defect.
After an act or event, other than a call that has been revoked, creating a right to immediate performance of the principal obligation represented...
- Section 440.8204 Restriction On Transfer Of Security.
A restriction on transfer of a security imposed by the issuer, even though otherwise lawful, is ineffective against a person without knowledge of the...
- Section 440.8205 Unauthorized Signature.
An unauthorized signature placed on a security certificate before or in the course of issue is ineffective, but the signature is effective in favor...
- Section 440.8206 Completion Or Alteration Of Security Certificate.
(1) If a security certificate contains the signatures necessary to its issue or transfer but is incomplete in any other respect, it may be...
- Section 440.8207 Rights Of Issuer Or Indenture Trustee With Respect To Registered Owner.
(1) Before due presentment for registration of transfer of a certificated security in registered form, or of an instruction requesting registration of transfer of...
- Section 440.8208 Warranty Of Person Signing Security Certificate.
(1) A person signing a security certificate as authenticating trustee, registrar, transfer agent, or the like, warrants to a purchaser for value of the...
- Section 440.8210 Overissue.
(1) In this section, “overissue” means the issue of securities in excess of the amount the issuer has corporate power to issue, but an...
Last modified: October 10, 2016