<?xml version='1.0' encoding='utf-8'?>
<section article="gcl" article_name="Commercial Law" number="8-208" title_number="8" title_name="Investment Securities" subtitle_number="2" subtitle_name="Issue and Issuer">
  <level label="a">
    <text>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:</text>
    <level label="1">
      <text>The certificate is genuine;</text>
    </level>
    <level label="2">
      <text>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</text>
    </level>
    <level label="3">
      <text>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.</text>
    </level>
  </level>
  <level label="b">
    <text>Unless otherwise agreed, a person signing under subsection (a) of this section does not assume responsibility for the validity of the security in other respects.</text>
  </level>
</section>
