Rights of purchaser
Known as the Uniform Commercial Code
The act spans §§ 104–104 (489 sections).
Applied in 1 court decision — leading case Arthur W. Tifford, PA v. Tandem Energy Corp. (2009)
Most recently applied in Arthur W. Tifford, PA v. Tandem Energy Corp. (March 2009)
(Added to NRS by 1997, 364; A 1999, 379)
1. Except as otherwise provided in subsections 2 and 3, a purchaser of a certificated or uncertificated security acquires all rights in the security that the transferor had or had power to transfer.
2. A purchaser of a limited interest acquires rights only to the extent of the interest purchased.
3. 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.
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.