§ 26-1-8-1-303

(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.As added by P.L.247-1995, SEC.10. Amended by P.L.199-2023, SEC.39.