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2016 Statute



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84-8-303.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) 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: L. 1996, ch. 202, § 56; July 1.



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2017. Powered by KLISS. Rendered: 2017-10-18T01:07:05. Head Rev No: 273998