O.C.G.A.

O.C.G.A. § 11-8-205 (2019)

Effect of unauthorized signature on security certificate

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)

Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.

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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.

History

Code 1981, § 11-8-205, enacted by Ga. L. 1998, p. 1323, § 1.

Annotations

RESEARCH REFERENCES Am. Jur. 2d. 15A Am. Jur. 2d, Commercial Code, § 83. 18 Am. Jur. 2d, Corporations, § 254. C.J.S. 19 C.J.S., Corporations, § 667. 64A

C.J.S., Municipal Corporations, §§ 1723, 1724. 81A C.J.S., States, § 190. U.L.A. Uniform Commercial Code (U.L.A.) § 8205.