(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 acquires its interest in the security free of any adverse claim. History of Section.P.L. 2000, ch. 182, § 5; P.L. 2000, ch. 420, § 5; P.L. 2024, ch. 65, § 8, effective June 10, 2024; P.L. 2024, ch. 66, § 8, effective June 10, 2024.
Rhode Island Legal Code