(a) Except as otherwise provided in (b) and (c) of this section, 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.
Section: Previous 45.08.301 45.08.302 45.08.303 45.08.304 45.08.305 45.08.306 45.08.307 45.08.308 NextLast modified: November 15, 2016