Section 11-8-302. Rights of purchaser

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(a) Except as otherwise provided in subsections (b) and (c) of this Code 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.

Code 1981, § 11-8-302, enacted by Ga. L. 1998, p. 1323, § 1; Ga. L. 2001, p. 362, § 21.

                    
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