§8-1303. Protected purchaser
(CONTAINS TEXT WITH VARYING EFFECTIVE DATES)
(1).
"Protected purchaser" means a purchaser of a certificated or uncertificated security or of an interest in a certificated or uncertificated security who:
(a).
Gives value;
[PL 1997, c. 429, Pt. B, §2 (NEW).]
(b).
Does not have notice of any adverse claim to the security; and
[PL 1997, c. 429, Pt. B, §2 (NEW).]
(c).
Obtains control of the certificated or uncertificated security.
[PL 1997, c. 429, Pt. B, §2 (NEW).]
[PL 1997, c. 429, Pt. B, §2 (NEW).]
(2).
(TEXT EFFECTIVE UNTIL 7/01/25) In addition to acquiring the rights of a purchaser, a protected purchaser also acquires its interest in the security free of any adverse claim.
[PL 1997, c. 429, Pt. B, §2 (NEW).]
(2).
(TEXT EFFECTIVE 7/01/25) A protected purchaser acquires its interest in the security free of any adverse claim.
[PL 2023, c. 669, Pt. A, §64 (AMD); PL 2023, c. 669, Pt. E, §1 (AFF).]
SECTION HISTORY
PL 1997, c. 429, §B2 (NEW). PL 2023, c. 669, Pt. A, §64 (AMD). PL 2023, c. 669, Pt. E, §1 (AFF).