North Dakota § 41-08-28 (8-302) Rights of purchaser

North Dakota Statutes

§ 41-08-28 — (8-302) Rights of purchaser

North Dakota § 41-08-28

Title 41Uniform Commercial Code

Ch. 41-08Investment Securities

This text of North Dakota § 41-08-28 ((8-302) Rights of purchaser) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 41-08-28 (2026).

Text

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.

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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.