Code of Virginia § 8.8A-303. Protected purchaser.
67 words·~1 min read·
/va/chapter-3/8-8a-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 also acquires its interest in the security free of any adverse claim.
1996, c. 216 ; 2024, c. 652 .