Section 45.08.302. Rights of purchaser.

Latest version.

   (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.

Notes

History

(Sec. 8.302 ch 114 SLA 1962; am Sec. 22, 23 ch 49 SLA 1990; am Sec. 30 ch 17 SLA 1996; am Sec. 20 ch 113 SLA 2000)

                    
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