Me. Stat. tit. 11 § 8-1302

Current through 131st (2023-2024) Legislature Chapter 634

Section 8-1302 - Rights of purchaser

(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.

[1999, c. 699, Pt. B, §24 (AMD); 1999, c. 699, Pt. B, §28 (AFF).]

(2). A purchaser of a limited interest acquires rights only to the extent of the interest purchased.

[1997, c. 429, Pt. B, §2 (NEW).]

(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.

[1997, c. 429, Pt. B, §2 (NEW).]

11 M.R.S. § 8-1302

1997, c. 429, §B2 (NEW) . 1999, c. 699, §B24 (AMD) . 1999, c. 699, §B28 (AFF) .