TITLE 6A
Uniform Commercial Code

CHAPTER 6A-8
Investment Securities

PART 6A-8-301
Transfer of Certificated and Uncertificated Securities

SECTION 6A-8-302


§ 6A-8-302 Rights of purchaser.

(a) Except as otherwise provided in subsections (b) and (c), a purchaser of a certificated or uncertificated security acquires all rights in the security that the transferor had or had power to transfer.

(b) A purchaser of a limited interest acquires rights only to the extent of the interest purchased.

(c) A purchaser of a certificated security who as a previous holder had notice of an adverse claim does not improve its position by taking from a protected purchaser.

History of Section.
(P.L. 2000, ch. 182, § 5; P.L. 2000, ch. 420, § 5.)