Section 1308.16 - Rights of purchaser - UCC 8-302(A) Except as otherwise provided in divisions (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.Effective Date: 7/1/2001 .