§490:8-208  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. [L 1997, c 33, pt of §2]