§ 336.8-303 — 336.8-303 PROTECTED PURCHASER.

Minnesota § 336.8-303

• Jurisdiction: Minnesota
• Part: TRADE REGULATIONS, CONSUMER PROTECTION
• Ch. 336: UNIFORM COMMERCIAL CODE

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) A protected purchaser also acquires its interest in the security free of any adverse claim.

Legislative History

1995 c 194 art 1 s 29;2024 c 93 art 8 s 5