Alabama Statutes
§ 7-8-302 — Rights of Purchaser
Alabama·Title 7 Commercial Code·Art. 8 Investment Securities·Part 3 Transfer of Certificated and Uncertificated Securities
(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.
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Related
In Re Windham Power Lifts Inc.
91 B.R. 595 (M.D. Alabama, 1988)
Legislative History
(Acts 1996, No. 96-742, p. 1241, §1; Act 2001-481, p. 647, §2.)
Nearby Sections
15
§ 7-1-101
Short Titles§ 7-1-102
Scope of Article§ 7-1-104
Construction Against Implied Repeal§ 7-1-105
Severability§ 7-1-106
Use of Singular and Plural; Gender§ 7-1-107
Section Captions§ 7-1-109
Section Captions§ 7-1-201
General Definitions§ 7-1-202
Notice; Knowledge§ 7-1-204
Value§ 7-1-205
Reasonable Time; Seasonableness§ 7-1-206
Presumptions