Section 41-08-24 - (8-208) Effect of signature of authenticating trustee, registrar, or transfer agent1. 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: a. The certificate is genuine;b. 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; andc. 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.2. Unless otherwise agreed, a person signing under subsection 1 does not assume responsibility for the validity of the security in other respects.