Utah Code 70A-8-208. Effect of signature of authenticating trustee, registrar, or transfer agent
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(1) 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:
Terms Used In Utah Code 70A-8-208
- Certificated security: means a security that is represented by a certificate. See Utah Code 70A-8-101
- Person: means :(24)(a) an individual;(24)(b) an association;(24)(c) an institution;(24)(d) a corporation;(24)(e) a company;(24)(f) a trust;(24)(g) a limited liability company;(24)(h) a partnership;(24)(i) a political subdivision;(24)(j) a government office, department, division, bureau, or other body of government; and(24)(k) any other organization or entity. See Utah Code 68-3-12.5
- Security: except as otherwise provided in Section
70A-8-102 , means an obligation of an issuer or a share, participation, or other interest in an issuer or in property or an enterprise of an issuer that:(1)(p)(i) is represented by a security certificate in bearer or registered form, or the transfer of which may be registered upon books maintained for that purpose by or on behalf of the issuer;(1)(p)(ii) is one of a class or series or by its terms is divisible into a class or series of shares, participations, interests, or obligations; and(1)(p)(iii)(1)(p)(iii)(A) is, or is of a type, dealt in or traded on securities exchanges or securities markets; or(1)(p)(iii)(B) is a medium for investment and by its terms expressly provides that it is a security governed by this chapter. See Utah Code 70A-8-101- Trustee: A person or institution holding and administering property in trust.
(1)(a) the certificate is genuine;(1)(b) 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(1)(c) 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.(2) Unless otherwise agreed, a person signing under Subsection(1) does not assume responsibility for the validity of the security in other respects. - Security: except as otherwise provided in Section