§490:8-02 Rights of purchaser. (a) [Subsection effective until June 30, 2001. For subsection effective July 1, 2001, see below.] Except as otherwise provided in subsections (b) and (c), upon delivery of a certificated or uncertificated security to a purchaser, the purchaser acquires all rights in the security that the transferor had or had power to transfer.

(a) [Subsection effective July 1, 2001. For subsection effective until June 30, 2001, see above.] Except as otherwise provided in subsections (b) and (c), 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. [L 1997, c 33, pt of §2; am L 2000, c 241, §26]