TITLE XXXIV-A
UNIFORM COMMERCIAL CODE

CHAPTER 382-A
UNIFORM COMMERCIAL CODE

ARTICLE 8
INVESTMENT SECURITIES

Part 3
Transfer of Certificated and Uncertificated Securities

Section 382-A:8-303

    382-A: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) In addition to acquiring the rights of a purchaser, a protected purchaser also acquires its interest in the security free of any adverse claim.

Source. 1998, 326:1, eff. Jan. 1, 1999.