KANSAS OFFICE of
  REVISOR of STATUTES

  

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84-8-208. 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

(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) does not assume responsibility for the validity of the security in other respects.

History: L. 1996, ch. 202, § 51; July 1.

KANSAS COMMENT, 1996

This section is derived from the former 84-8-208, which has been modified to refer to a security "certificate." The other changes are minor and stylistic. The section is identical to the Official Text.

This section spells out the warranties made by the issuer's agent to a purchaser for value without notice of a particular defect. Warranties made by a holder on registration of transfer are covered in 84-8-108 and 84-8-109.

Revisor's Note:

Former section 84-8-208 was repealed by L. 1996, ch. 202, § 91 and the number reassigned to the current text.


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