Tennessee § 47-8-303 Protected purchaser

Tennessee Statutes

§ 47-8-303 — Protected purchaser

Tennessee § 47-8-303

Title47

This text of Tennessee § 47-8-303 (Protected purchaser) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 47-8-303 (2026).

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.

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(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.