Mich. Comp. Laws § 440.8302

Current through Public Act 57 of the 2024 Legislative Session
Section 440.8302 - Purchaser of security; rights acquired
(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.

MCL 440.8302

1962, Act 174, Eff. 1/1/1964 ;--Am. 1987, Act 16, Imd. Eff. 4/24/1987 ;--Am. 1998, Act 278, Imd. Eff. 7/27/1998 ;--Am. 2000, Act 348, Eff. 7/1/2001.