§ 4-8-303 — 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) A protected purchaser also acquires its interest in the security free of any
adverse claim.

Legislative History

Source: L. 96: Entire article R&RE, p. 221, � 2, effective July 1. L. 2023: (b) amended, (SB 23-090), ch. 136, p. 539, � 41, effective August 7.