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.