Illinois § 8-302 Rights of purchaser

Illinois Statutes

§ 8-302 — Rights of purchaser

Illinois·Topic BUSINESS AND EMPLOYMENT·Ch. 810 COMMERCIAL CODE·Act 810 ILCS 5/ Uniform Commercial Code.·Art. Article 8 - Investment Securities

(a)Except as otherwise provided in subsections (b) and (c), 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.

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Except as otherwise provided in subsections (b) and (c), 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.

Illinois § 8-302 (Rights of purchaser) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.