Print
The Vermont Statutes Online
Title
09A
:
Uniform Commercial Code
Chapter
008
:
Investment Securities
§
8-205. Effect of unauthorized signature on security certificate
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:
(1) an
authenticating trustee, registrar, transfer agent, or other person entrusted by
the issuer with the signing of the security certificate or of similar security
certificates, or the immediate preparation for signing of any of them; or
(2) an employee
of the issuer, or of any of the persons listed in subdivision (1), entrusted
with responsible handling of the security certificate. (Added 1995, No. 92
(Adj. Sess.), § 1, eff. Jan. 1, 1997.)