400.8-302. Rights of purchaser. - Missouri Statutes

Rights of purchaser.

400.8-302. (a) Except as otherwise provided in subsections (b) and(c), a purchaser of a certificated or uncertificated security acquires allrights in the security that the transferor had or had power to transfer.

(b) A purchaser of a limited interest acquires rights only to theextent of the interest purchased.

(c) A purchaser of a certificated security who as a previous holderhad notice of an adverse claim does not improve its position by taking froma protected purchaser.

(L. 1963 p. 503 § 8-302, A.L. 1992 S.B. 448, A.L. 1997 S.B. 6, A.L. 2001 S.B. 288)

Effective 7-01-01