(b) A person who delivers a security certificate to a securities
intermediary for credit to a securities account or originates an instruction
with respect to an uncertificated security directing that the uncertificated
security be credited to a securities account makes to the securities
intermediary the warranties specified in Section 8-108(a) or (b).
(c) If a securities intermediary delivers a security certificate to its
entitlement holder or causes its entitlement holder to be registered as the
owner of an uncertificated security, the securities intermediary makes to the
entitlement holder the warranties specified in Section 8-108(a) or (b).
(Source: P.A. 89-364, eff. 1-1-96.)