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

Section 65 Disposition versions

2009-01-01

65. A person who endorses a security certificate warrants to the purchaser for value and to any subsequent purchaser that

(1)  the security certificate is neither forged nor counterfeited and has not been materially altered;

(2)  the endorser does not know of any fact that might impair the validity of the security;

(3)  there is no adverse claim to the security;

(4)  the transfer does not violate any restriction on transfer;

(5)  the endorsement is made by the appropriate person or, if the endorser is a representative of the appropriate person, the endorser has actual authority to act on behalf of the appropriate person; and

(6)  the transfer is otherwise effective and rightful.

2008, c. 20, s. 65.