Sec. 45.08.302. Rights of purchaser.
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Sec. 45.08.302. Rights of purchaser.
(a)Except as otherwise provided in
(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.
(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.