ORS 78.3020¹
Rights of purchaser

(1) Except as otherwise provided in subsections (2) and (3) 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.

(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. [1961 c.726 §78.3020 (Rights of purchaser); 1985 c.676 §78.3020 (Rights of purchaser); 1995 c.328 §28; 2001 c.445 §155]

1 Legislative Counsel Committee, CHAPTER 78—Investment Securities, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors078.­html (2019) (last ac­cessed May 16, 2020).
2 OregonLaws.org contains the con­tents of Volume 21 of the ORS, inserted along­side the per­tin­ent statutes. See the preface to the ORS An­no­ta­tions for more information.
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent. Currency Information