30-8-332. Rights of purchaser.
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/mt/title-30/chapter-8/part-3/30-8-332·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
30-8-332 . Rights of purchaser.
(1)Except as otherwise provided in subsections
(2)and (3), a purchaser of a certificated or uncertificated security acquires all rights in the security that the transferor had or had power to transfer.
(2)A purchaser of a limited interest acquires rights only to the extent of the interest purchased.
(3)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.