§ 8-303. Protected purchaser.
58 words·~1 min read·
/de/title-6/chapter-8/8-303A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(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 acquires its interest in the security free of any adverse claim.