- 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:
- The certificate is genuine;
- 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
- 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.
- Unless otherwise agreed, a person signing under subsection (a) of this Code section does not assume responsibility for the validity of the security in other respects.
History. Code 1981, § 11-8-208 , enacted by Ga. L. 1998, p. 1323, § 1.