47-8-302 - Rights of purchaser. - Tennessee Statutes

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47-8-302. Rights of purchaser.

(a) 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.

[Acts 1997, ch. 79, § 1; 2000, ch. 846, § 20.]

State Codes and Statutes

Statutes > Tennessee > Title-47 > Chapter-8 > Part-3 > 47-8-302

47-8-302. Rights of purchaser.

(a) 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.

[Acts 1997, ch. 79, § 1; 2000, ch. 846, § 20.]

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State Codes and Statutes

Statutes > Tennessee > Title-47 > Chapter-8 > Part-3 > 47-8-302

47-8-302. Rights of purchaser.

(a) 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.

[Acts 1997, ch. 79, § 1; 2000, ch. 846, § 20.]