§12A-8-303. Protected Purchaser.
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/ok/title-12a-uniform-commercial-code/12a-8-303·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Protected Purchaser.
(a)"Protected purchaser" means a purchaser of a certificated or uncertificated security, or of an interest therein, who:
(1)gives value;
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. Added by Laws 1961, p. 155, § 8-303. Amended by Laws 1984, c. 76, § 20, eff. Nov. 1, 1984; Laws 1995, c. 242, § 29, eff. Feb. 1, 1996; Laws 2024, c. 13, § 41, eff. Nov. 1, 2024.