N.D. Cent. Code § 41-08-29

Current through 2023 Legislative Sessions

Section 41-08-29 - (8-303) Protected purchaser

1. "Protected purchaser" means a purchaser of a certificated or uncertificated security, or of an interest therein, who:

a. Gives value;

b. Does not have notice of any adverse claim to the security; and

c. Obtains control of the certificated or uncertificated security.

2. A protected purchaser acquires its interest in the security free of any adverse claim.

N.D.C.C. § 41-08-29

Amended by S.L. 2023 , ch. 371( HB 1082 ), § 41, eff. 8/1/2023.