Iowa Code 554.8208 – 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:
a. the certificate is genuine;
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
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.
Terms Used In Iowa Code 554.8208
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
- Trustee: A person or institution holding and administering property in trust.
2. Unless otherwise agreed, a person signing under subsection 1 does not assume responsibility for the validity of the security in other respects.