Sec. 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.
Amended by Acts 1995, 74th Leg., ch. 962, Sec. 1, eff. Sept. 1, 1995; Acts 1999, 76th Leg., ch. 414, Sec. 2.30, eff. July 1, 2001.
Structure Texas Statutes
Title 1 - Uniform Commercial Code
Chapter 8 - Investment Securities
Subchapter C. Transfer of Certificated and Uncertificated Securities
Section 8.302. Rights of Purchaser
Section 8.303. Protected Purchaser
Section 8.306. Effect of Guaranteeing Signature, Indorsement, or Instruction
Section 8.307. Purchaser's Right to Requisites for Registration of Transfer