TITLE 6A
Uniform Commercial Code

CHAPTER 6A-8
Investment Securities

PART 6A-8-301
Transfer of Certificated and Uncertificated Securities

SECTION 6A-8-303


§ 6A-8-303 Protected purchaser.

(a) "Protected purchaser" means a purchaser of a certificated or uncertificated security, or of an interest therein, who:

(1) gives value;

(2) does not have notice of any adverse claim to the security; and

(3) obtains control of the certificated or uncertificated security.

(b) In addition to acquiring the rights of a purchaser, a protected purchaser also acquires its interest in the security free of any adverse claim.

History of Section.
(P.L. 2000, ch. 182, § 5; P.L. 2000, ch. 420, § 5.)