§ 8302. Rights of purchaser.
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§ 8302. Rights of purchaser.
(a)Rights acquired by purchaser.-- 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)Rights acquired by purchaser of limited interest.-- A purchaser of a limited interest acquires rights only to the extent of the interest purchased.
(c)Limitation on rights acquired from protected purchaser.-- 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.
13c8302v
(June 8, 2001, P.L.123, No.18, eff. July 1, 2001)
2001 Amendment. Act 18 amended subsec. (a).
13c8303s