§ 25-8-302. Rights of purchaser. - North Carolina Statutes

§25‑8‑302.  Rights of purchaser.

(a)        Except as otherwiseprovided in subsections (b) and (c) of this section, a purchaser of acertificated or uncertificated security acquires all rights in the securitythat the transferor had or had power to transfer.

(b)        A purchaser of alimited interest acquires rights only to the extent of the interest purchased.

(c)        A purchaser of acertificated security who as a previous holder had notice of an adverse claimdoes not improve its position by taking from a protected purchaser. (1899,c. 733, s. 52; Rev., s. 2201; C.S., s. 3033; 1965, c. 700, s. 1; 1989, c. 588,s. 1; 1997‑181, s. 1; 2000‑169, s. 25.)