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§ 8205. Effect of unauthorized signature on security certificate

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 13 Pa.C.S.A. Commercial Code

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 13 Pa.C.S.A. Commercial Code (Refs & Annos)
Division 8. Investment Securities (Refs & Annos)
Chapter 82. Issue and Issuer
13 Pa.C.S.A. § 8205
§ 8205. Effect of unauthorized signature on security certificate
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), entrusted with responsible handling of the security certificate.

Credits

1996, May 22, P.L. 248, No. 44, § 8, effective in 180 days.
13 Pa.C.S.A. § 8205, PA ST 13 Pa.C.S.A. § 8205
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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