§ 25-8-303. Protected purchaser.
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§ 25-8-303. Protected purchaser.
(a)"Protected purchaser" means a purchaser of a certificated or uncertificated security, or of an interest therein, to which all of the following apply:
(1)The purchaser gives value.
(2)The purchaser does not have notice of any adverse claim to the security.
(3)The purchaser obtains control of the certificated or uncertificated security.
(b)A protected purchaser acquires its interest in the security free of any adverse claim. (1965, c. 700, s. 1; 1997-181, s. 1; 2025-25, s. 150.)