§ 8-306. Effect of Guaranteeing Signature, Indorsement, or Instruction
Oklahoma Statutes AnnotatedTitle 12A. Commercial Code
12A Okl.St.Ann. § 8-306
§ 8-306. Effect of Guaranteeing Signature, Indorsement, or Instruction
Effect of Guaranteeing Signature, Indorsement, or Instruction.
(2) the signer was an appropriate person to originate the instruction, or if the signature is by an agent, the agent had actual authority to act on behalf of the appropriate person, if the person specified in the instruction as the registered owner was, in fact, the registered owner, as to which fact the signature guarantor does not make a warranty; and
(h) The warranties under this section are made to a person taking or dealing with the security in reliance on the guaranty, and the guarantor is liable to the person for loss resulting from their breach. An indorser or originator of an instruction whose signature, indorsement, or instruction has been guaranteed is liable to a guarantor for any loss suffered by the guarantor as a result of breach of the warranties of the guarantor.
Credits
Laws 1995, c. 242, § 32, eff. Feb. 1, 1996.
12A Okl. St. Ann. § 8-306, OK ST T. 12A § 8-306
Current with emergency effective legislation through Chapter 295 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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