There is a newer version of the New Mexico Statutes
2013 New Mexico Statutes
Chapter 55 - Uniform Commercial Code
Article 8 - Investment Securities
Part 3 - TRANSFER OF CERTIFICATED AND UNCERTIFICATED SECURITIES
Section 55-8-302 - Rights of purchaser. (2001)
NM Stat § 55-8-302 (2013) What's This?
55-8-302. Rights of purchaser. (2001)
(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.
History: 1978 Comp., § 55-8-302, enacted by Laws 1996, ch. 47, § 32; 2001, ch. 139, § 144.
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