(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.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 1 - Uniform Commercial Code
Chapter 8 - Investment Securities
Part 3 - Transfer of Certificated and Uncertificated Securities
§ 4-8-302. Rights of purchaser
§ 4-8-303. Protected purchaser
§ 4-8-306. Effect of guaranteeing signature, indorsement, or instruction
§ 4-8-307. Purchaser's right to requisites for registration of transfer