8.8A-302 - A-302. Rights of purchaser. - Virginia Statutes

§ 8.8A-302. Rights of purchaser.

(a) Except as otherwise provided in subsections (b) and (c), 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 a limited interest acquires rights only to the extent ofthe interest purchased.

(c) A purchaser of a certificated security who as a previous holder hadnotice of an adverse claim does not improve its position by taking from aprotected purchaser.

(1996, c. 216; 2000, c. 1007.)