Section 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.Tex. Bus. and Comm. Code § 8.302
Amended By Acts 1999, 76th Leg., ch. 414, Sec. 2.30, eff. 7/1/2001.Amended by Acts 1995, 74th Leg., ch. 962, Sec. 1, eff. 9/1/1995