Okla. Stat. tit. 6, § 6-412
This is the official text of Okla. Stat. tit. 6, § 6-412, part of Oklahoma’s Stat. tit. 6, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 6,." Browse the sections below, each linked to its official government source.
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Signature guaranty
Official statutory text
(1) A bank may become guarantor of the genuineness of a
signature.
(2) A bank guaranteeing the signature of a person on any
document warrants to any person relying on such guaranty only that:
(a) the signature is that of the person signing; and
(b) the signer is the holder, or the signer has purported
authority to sign in the name of the holder; provided that if the
holder purports to act as a fiduciary either as "fiduciary" as
defined in this Code or his name is signed by a person purporting to
act on the holder's behalf as a fiduciary, the bank warrants that
Oklahoma Statutes - Title 6. Banks and Trust Companies Page 63
such holder or such person so signing as such fiduciary is in fact
the fiduciary he purports to be and warrants that the bank has no
actual knowledge that such fiduciary is committing a breach of his
obligation as such fiduciary in signing such document and that it
has no knowledge of such facts that its action in guaranteeing the
signature amounts to bad faith; and
(c) the signer has legal capacity to sign.
(3) A bank may disclaim in its guaranty all or any part of the
obligations set forth in subsection (2)(b) of this section.
signature.
(2) A bank guaranteeing the signature of a person on any
document warrants to any person relying on such guaranty only that:
(a) the signature is that of the person signing; and
(b) the signer is the holder, or the signer has purported
authority to sign in the name of the holder; provided that if the
holder purports to act as a fiduciary either as "fiduciary" as
defined in this Code or his name is signed by a person purporting to
act on the holder's behalf as a fiduciary, the bank warrants that
Oklahoma Statutes - Title 6. Banks and Trust Companies Page 63
such holder or such person so signing as such fiduciary is in fact
the fiduciary he purports to be and warrants that the bank has no
actual knowledge that such fiduciary is committing a breach of his
obligation as such fiduciary in signing such document and that it
has no knowledge of such facts that its action in guaranteeing the
signature amounts to bad faith; and
(c) the signer has legal capacity to sign.
(3) A bank may disclaim in its guaranty all or any part of the
obligations set forth in subsection (2)(b) of this section.
Status: in_force · Read it on the official government site
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