Tennessee Code 47-8-205 – Effect of unauthorized signature on security certificate
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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:
Terms Used In Tennessee Code 47-8-205
- Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
- Trustee: A person or institution holding and administering property in trust.