30-8-333. Protected purchaser.
63 words·~1 min read·
/mt/title-30/chapter-8/part-3/30-8-333·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
30-8-333 . Protected purchaser.
(1)"Protected purchaser" means a purchaser of a certificated or uncertificated security, or of an interest therein, who:
(a)gives value;
(b)does not have notice of any adverse claim to the security; and
(c)obtains control of the certificated or uncertificated security.
(2)A protected purchaser also acquires its interest in the security free of any adverse claim.