§12A-8-302.

§12A-8-302.
   
   Rights of Purchaser.
   
   (a) Except as otherwise provided in subsections (b) and (c) of this
   section, upon delivery of a certificated or uncertificated security to
   a purchaser, the purchaser 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.