P.R. Laws tit. 19, § 1803
2019-02-20 00:00:00+00
(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 —Aug. 17, 1995, No. 208, added § 8-303 on Sept. 19, 1996, No. 241, § 12.