(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 the 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 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 division (A) of this section does not assume responsibility for the validity of the security in other respects.
Effective Date: 01-01-1998
Section: Previous 1308.08 1308.09 1308.10 1308.11 1308.12 1308.13 1308.14 1308.15 1308.16 1308.17 1308.18 1308.19 1308.20 1308.21 1308.22 NextLast modified: October 10, 2016