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New Jersey Statutes Title 12A. Commercial Transactions 12A § 8-208

Current as of February 19, 2021 | Updated by FindLaw Staff

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 a 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 subsection a. of this section does not assume responsibility for the validity of the security in other respects.

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Cite this article: FindLaw.com - New Jersey Statutes Title 12A. Commercial Transactions 12A § 8-208 - last updated February 19, 2021 | https://codes.findlaw.com/nj/title-12a-commercial-transactions/nj-st-sect-12a-8-208/

Read this complete New Jersey Statutes Title 12A. Commercial Transactions 12A § 8-208 on Westlaw

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.

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