Statute: 678.3021 : Rights of purchaser.—
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TITLE XXXIX : COMMERCIAL RELATIONS
PART III : TRANSFER OF CERTIFICATED AND UNCERTIFICATED SECURITIES
678.3021 Rights of purchaser.— (1) Except as otherwise provided in subsections (2) and (3), a purchaser of a certificated or uncertificated security acquires all rights in the security that the transferor had or had power to transfer. (2) A purchaser of a limited interest acquires rights only to the extent of the interest purchased. (3) 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.
