2000 Minnesota Statutes

  336.8-302 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. 

    HIST: 1995 c 194 art 1 s 28; 2000 c 399 art 2 s 19 

*   NOTE:  The amendment to this section by Laws 2000, chapter 
*399, article 2, section 19, is effective July 1, 2001.  Laws 
*2000, chapter 399, article 1, section 130.