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Official Code of Georgia Annotated

Title 11. COMMERCIAL CODE · Chapter 8. · Article 8. INVESTMENT SECURITIES · Part 3. TRANSFER OF CERTIFICATED AND UNCERTIFICATED SECURITIES

11-8-302. Rights of purchaser.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

  1. (a)

    Except as otherwise provided in subsections (b) and (c) of this Code section, a purchaser of a certificated or uncertificated security acquires all rights in the security that the transferor had or had power to transfer.#

  2. (b)

    A purchaser of a limited interest acquires rights only to the extent of the interest purchased.#

  3. (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.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 11-8-302, enacted by Ga. L. 1998, p. 1323, § 1; Ga. L. 2001, p. 362, § 21.

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t11-(v9)-2022-pdf.pdf, Volume V9, 2022 edition, page 681; merge action: carried; file SHA-256 ad397fccbf21.