§ 8—303.
85 words·~1 min read·
/vt/8-29A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 8—303. Protected purchaser
(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. (Added 1995, No. 92 (Adj. Sess.), § 1, eff. Jan. 1, 1997; amended 2025, No. 17, § 8, eff. July 1, 2025.)