As Amended
SEC. 75-8-302. Rights of purchaser.
(a) 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) 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.
SOURCES: Laws, 1996, ch. 468 § 29; Laws, 2001, ch. 495, § 21, SB 2626, eff from and after Jan. 1, 2002.
PREVIOUS VERSIONS: Pre-2001