Section 4-8-302 - 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.Acts 1995, No. 425, § 1; 2001, No. 1439, § 20.