1803

(a) Protected purchaser. — Means a purchaser of a certificated or uncertificated security, or of an interest therein, who:\n(1) Gives value;\n(2) does not have notice of any adverse claim to the security, and\n(3) obtains control of the certificated or uncertificated security.\n(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.\nHistory —Aug. 17, 1995, No. 208, added § 8-303 on Sept. 19, 1996, No. 241, § 12.