§ 8-303 — Protected Purchaser

Section 8--303. Protected Purchaser.\n (a) "Protected purchaser" means a purchaser of a certificated or\nuncertificated security, or of an interest therein, who:\n (1) gives value;\n (2) does not have notice of any adverse claim to the security;\n and\n (3) obtains control of the certificated or uncertificated\n security.\n * (b) In addition to acquiring the rights of a purchaser, a protected\npurchaser also acquires its interest in the security free of any adverse\nclaim.\n * NB Effective until June 3, 2026\n* (b) A protected purchaser also acquires its interest in the security\nfree of any adverse claim.\n * NB Effective June 3, 2026\n