70A-8-208. Effect of signature of authenticating trustee, registrar, or transfer agent.
(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: the certificate is genuine; 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 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.
(2) Unless otherwise agreed, a person signing under Subsectiondoes not assume responsibility for the validity of the security in other respects. (1)