§ 70A-8-302. Rights of purchaser.

Latest version.

(1)	Except as otherwise provided in Subsections (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.

Amended by Chapter 252, 2000 General Session

                    
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