(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.Laws, 1996, ch. 468 § 29; Laws, 2001, ch. 495, § 21, eff. 1/1/2002.
Mississippi Legal Code