Illinois Compiled Statutes 810 ILCS 5/8-208 – Effect of signature of authenticating trustee, registrar, or transfer agent
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(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
(1) the certificate is genuine;
Terms Used In Illinois Compiled Statutes 810 ILCS 5/8-208
- Trustee: A person or institution holding and administering property in trust.
(2) the person’s own participation in the issue of
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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.