(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.
History.—s. 3, ch. 98-11; s. 23, ch. 2001-198.
Structure Florida Statutes
Title XXXIX - Commercial Relations
Chapter 678 - Uniform Commercial Code: Investment Securities
Part III - Transfer of Certificated and Uncertificated Securities (Ss. 678.3011-678.3071)
678.3021 - Rights of purchaser.
678.3031 - Protected purchaser.
678.3061 - Effect of guaranteeing signature, indorsement, or instruction.
678.3071 - Purchaser’s right to requisites for registration of transfer.