Alabama § 7-8-302 Rights of Purchaser

Alabama Statutes

§ 7-8-302 — Rights of Purchaser

Alabama § 7-8-302

Title 7Commercial Code

Art. 8Investment Securities

Part 3Transfer of Certificated and Uncertificated Securities

This text of Alabama § 7-8-302 (Rights of Purchaser) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 7-8-302 (2026).

Text

(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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(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.