TITLE XXXIV-A
UNIFORM COMMERCIAL CODE

CHAPTER 382-A
UNIFORM COMMERCIAL CODE

ARTICLE 8
INVESTMENT SECURITIES

Part 3
Transfer of Certificated and Uncertificated Securities

Section 382-A:8-302

    382-A: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.

Source. 1998, 326:1. 2001, 102:23, eff. July 1, 2001.