Endorsement of security and liable for amount thereof.

(1) A person shall by reason of his having endorsed any board security, be liable to pay any money due either as principal or as interest there under. (2) The signature of the person authorized to sign the Board Securities on behalf of the Board may be printed engraved or lithographed or impressed by such mechanical process as the Board may direct. (3) A signature so printed engraved or lithographed impressed or otherwise shall be valid as if it had been inscribed in the proper handwriting of the person so authorized.