1. Except as otherwise provided in subsections 2 and 3, a purchaser of a certificated or uncertificated security acquires allrights 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 certificatedsecurity who as a previous holder had notice of an adverse claim does not improve its position by taking from a protected purchaser. [S13, §3060-a52; C24, 27, 31, 35, 39, §9512; C46, 50, 54, 58, 62, §541.52; C66, 71, 73, 75, 77, 79, 81, §554.8302]
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