Tennessee § 47-8-303 Protected purchaser

Tennessee Statutes

§ 47-8-303 — 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)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.

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