§ 8.8A-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.
History
This law was first created in 1996. The record of its establishment is cataloged in chapter 216 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. That modification is as follows: in 2000, chapter 1007.
1996, c. 216; 2000, c. 1007.