Section 8-1303 - [Effective Until 7/1/2025] Protected purchaser(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; [1997, c. 429, Pt. B, §2(NEW).](b). Does not have notice of any adverse claim to the security; and [1997, c. 429, Pt. B, §2(NEW).](c). Obtains control of the certificated or uncertificated security. [1997, c. 429, Pt. B, §2(NEW).] [1997, c. 429, Pt. B, §2(NEW).]
(2). In addition to acquiring the rights of a purchaser, a protected purchaser also acquires its interest in the security free of any adverse claim. [1997, c. 429, Pt. B, §2(NEW).]
1997, c. 429, §B2 (NEW) .This section is set out more than once due to postponed, multiple, or conflicting amendments.