Idaho Code 28-8-205 – Effect of Unauthorized Signature On Security Certificate
Current as of: 2023 | Check for updates
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An unauthorized signature placed on a security certificate before or in the course of issue is ineffective, but the signature is effective in favor of a purchaser for value of the certificated security if the purchaser is without notice of the lack of authority and the signing has been done by:
(1) An authenticating trustee, registrar, transfer agent or other person entrusted by the issuer with the signing of the security certificate or of similar security certificates, or the immediate preparation for signing of any of them; or
Terms Used In Idaho Code 28-8-205
- person: includes a corporation as well as a natural person;
Idaho Code 73-114Trustee: A person or institution holding and administering property in trust.
(2) An employee of the issuer, or of any of the persons listed in subsection (1) of this section, entrusted with responsible handling of the security certificate.