T-11.002 - Act respecting the transfer of securities and the establishment of security entitlements

Section 32 Disposition versions

2009-01-01

32. An unauthorized signature placed on a security certificate before or in the course of issue is ineffective except that the signature is effective in favour of a purchaser for value of the security if the purchaser is without notice of the lack of authority and the signing has been done by

(1)  a trustee, transfer registrar, transfer agent or other person entrusted by the issuer with the signing or the preparation for signing of security certificates or with the authentication of the origin, genuineness and integrity of security certificates; or

(2)  an employee of the issuer, or of any persons referred to in paragraph 1, entrusted with handling of the security certificate.

2008, c. 20, s. 32.