§ 47-8303 — Protected purchaser

Arizona § 47-8303

• Jurisdiction: Arizona
• Title 47: Arizona Revised Statutes
• Ch. 8: INVESTMENT SECURITIES
• Art. 3: Transfer of Certificated and Uncertificated Securities

Text

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.