(810 ILCS 5/8-208) (from Ch. 26, par. 8-208)
Sec. 8-208.
Effect of signature of authenticating trustee, registrar,
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 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
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(3) the person has reasonable grounds to believe that
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| the certificated security is in the form and within the amount the issuer is authorized to issue.
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(b) Unless otherwise agreed, a person signing under subsection (a) does
not assume responsibility for the validity of the security in other respects.
(Source: P.A. 89-364, eff. 1-1-96.)
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