1. 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, ifthe purchaser is without notice of a particular defect, that: a. the certificate is genuine; b. the person’s own participation in the issue of the security iswithin the person’s capacity and within the scope of the authority received by the person from the issuer; and c. the person has reasonable grounds to believe that the certificated security isin the form and within the amount the issuer is authorized to issue. 2. Unless otherwise agreed, a person signing under subsection 1 does not assume responsibility for the validity of the security in other respects.
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