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: The certificate is genuine; 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 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. 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.
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