<?xml version='1.0' encoding='utf-8'?>
<section article="gcl" article_name="Commercial Law" number="8-302" title_number="8" title_name="Investment Securities" subtitle_number="3" subtitle_name="Transfer of Certificated and Uncertificated Securities">
  <level label="a">
    <text>Except as otherwise provided in subsections (b) and (c) of this section, a purchaser of a certificated or uncertificated security acquires all rights in the security that the transferor had or had power to transfer.</text>
  </level>
  <level label="b">
    <text>A purchaser of a limited interest acquires rights only to the extent of the interest purchased.</text>
  </level>
  <level label="c">
    <text>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.</text>
  </level>
</section>
