(a) Except as otherwise provided in subsections (b) and (c) of this section, 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 Maryland Statutes
Title 8 - Investment Securities
Subtitle 3 - Transfer of Certificated and Uncertificated Securities
Section 8-302 - Rights of Purchaser
Section 8-303 - Protected Purchaser
Section 8-306 - Effect on Guaranteeing Signature, Indorsement, or Instruction
Section 8-307 - Purchaser's Right to Requisites for Registration of Transfer