§ 8.8A-303 — Protected purchaser

Virginia § 8.8A-303

• Jurisdiction: Virginia
• Title 8.8A: Commercial Code — Investment Securities
• Part 3: Transfer of Certificated and Uncertificated Securities

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

1996, c. 216; 2024, c. 652.