408.302 Rights of purchaser.
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/wi/chapter-408/408-302-9A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
408.302 Rights of purchaser.
(1)Except as otherwise provided in subs.
(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.