1999 Minnesota Statutes

  336.8-302 Rights of purchaser. 

    (a) 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. 

    (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. 

    HIST: 1995 c 194 art 1 s 28