57A-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) A protected purchaser also acquires its interest in the security free of any adverse claim. Source: SL 1998, ch 284, §1; SL 2024, ch 198, §42.
South Dakota Legal Code