Section 8-302 - Rights of purchaser. - Maryland Statutes

§ 8-302. Rights of purchaser.
 

(a)  Except as otherwise provided in subsections (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. 
 

[1996, ch. 92, § 2; 1999, ch. 282, § 2.]