Section 1308.16. Rights of purchaser - UCC 8-302

Latest version.

(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.

Effective Date: 07-01-2001

                    
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