State Codes and Statutes
Statutes > Maryland > Commercial-law > Title-8 > Subtitle-3 > 8-302§ 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.]
