Title 8.8A. Commercial Code — Investment Securities
Part 3. Transfer of Certificated and Uncertificated Securities
This section has more than one version with varying effective dates. Scroll down to see all versions.
§ 8.8A-303. (Effective until July 1, 2025) 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.
1996, c. 216.
§ 8.8A-303. (Effective July 1, 2025) 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) A protected purchaser also acquires its interest in the security free of any adverse claim.