The Florida Senate

678.3021  Rights of purchaser.--

(1)  Except as otherwise provided in subsections (2) and (3), upon delivery of a certificated or uncertificated security to a purchaser, the purchaser 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.

History.--s. 3, ch. 98-11.