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§ 8-205. Unauthorized signatures on security certificates

West's Annotated Code of MarylandCommercial Law

West's Annotated Code of Maryland
Commercial Law
Title 8. Investment Securities (Refs & Annos)
Subtitle 2. Issue and Issuer (Refs & Annos)
MD Code, Commercial Law, § 8-205
§ 8-205. Unauthorized signatures on security certificates
Currentness
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 paragraph (1) of this section, entrusted with responsible handling of the security certificate.

Credits

Added by Acts 1996, c. 92, § 2, eff. Oct. 1, 1996.
MD Code, Commercial Law, § 8-205, MD COML § 8-205
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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