§ 8—302.
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/vt/8-28A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 8—302. Rights of purchaser
(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.
(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. (Added 1995, No. 92 (Adj. Sess.), § 1, eff. Jan. 1, 1997; amended 1999, No. 106 (Adj. Sess.), § 21, eff. July 1, 2001.)