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N.J. Stat. Ann. § 12A:8-302

Rights of purchaser

Known as the Uniform Commercial Code

The act spans §§ 12A:1-101 to 12A:9-809 (506 sections).

L.1997, c.252, s.1; amended 2001, c.117, s.21.

Rights of Purchaser.

a. 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.

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.

Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.