Section 36-8-302 - Rights of purchaser(a) Except as otherwise provided in subsections (b) and (c), a purchaser 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.2001 Act No. 67, Section 5; 1991 Act No. 161, Section 1; 1966 (54) 2716; 1962 Code Section 10.8-302.