408.303 Protected purchaser.
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/wi/chapter-408/408-303-7A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
408.303 Protected purchaser.
(1)In this chapter, “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)In addition to acquiring the rights of a purchaser, a protected purchaser also acquires its interest in the security free of any adverse claim.