(8-302) Rights of purchaser
N.D. Cent. Code § 41-08-28
in effect41-08-28. (8-302) Rights of purchaser
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.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t41c08.pdf#nameddest=41-08-28Fetched: 10/16/2026