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Alaska Statutes.
Title 45. Trade and Commerce
Chapter 8. Investment Securities
Section 208. Effect of Signature of Authenticating Trustee, Registar, or Transfer Agent.
previous: Section 207. Rights and Duties of Issuer With Respect to Registered Owners and Registered Pledgees.
next: Section 209. Issuer's Lien.

AS 45.08.208. Effect of Signature of Authenticating Trustee, Registar, 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 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 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 (a) of this section does not assume responsibility for the validity of the security in other respects.


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Last modified 9/3/2005