1802

(a) Except as otherwise provided in subsections (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.\n(b) A purchaser of a limited interest acquires rights only to the extent of the interest purchased.\n(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.\nHistory —Aug. 17, 1995, No. 208, added as § 8-302 on Sept. 19, 1996, No. 241, § 12; Jan. 17, 2012, No. 21, § 20, eff. 1 year after Jan. 17, 2012.