Section 1308.16 | Rights of purchaser - UCC 8-302.
(A) Except as otherwise provided in divisions (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.
Available Versions of this Section
- July 1, 2001 – Senate Bill 74 - 124th General Assembly [ View July 1, 2001 Version ]