§ 30-8-333

30-8-333. Protected purchaser. (1) '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. History: En. Sec. 49, Ch. 536, L. 1997.