D.C. Code § 28:8-303

Current through codified legislation effective June 1, 2024

Section 28:8-303 - Protected purchaser

(a) For the purposes of this article, the term "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.

D.C. Code § 28:8-303

Amended by D.C. Law 25-158,§ 2, 71 DCR 002265, eff. 4/20/2024.

Dec. 30, 1963, 77 Stat. 736, Pub. L. 88-243, § 1; Mar. 16, 1993, D.C. Law 9-196, § 4, 39 DCR 9165; renumbered and amended, Apr. 9, 1997, D.C. Law 11-240, § 2, 44 DCR 1087.