28-8-302. RIGHTS OF PURCHASER. (1) Except as otherwise provided in subsections (2) and (3) 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.
(2) A purchaser of a limited interest acquires rights only to the extent of the interest purchased.
(3) 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:
[28-8-302, added 1995, ch. 272, sec. 2, p. 889; am. 2001, ch. 208, sec. 18, p. 815.]
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