11-8-205
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11-8-205. Effect
of unauthorized signature on security certificate.
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 Code section, entrusted with responsible handling of the security
certificate.