§ 10:8-303 — Protected purchaser

Louisiana § 10:8-303

• Jurisdiction: Louisiana
• Title 10: Commercial Laws

Text

§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

Added by Acts 1978, No. 165, §1, eff. Jan. 1, 1979. Acts 1989, No. 135, §6, eff. Jan. 1, 1990; Acts 1995, No. 884, §1, eff. Jan. 1, 1996; Acts 2024, No. 773, §1.