Tenn. Code § 47-8-303

Current through Acts 2023-2024, ch. 1069
Section 47-8-303 - 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) In addition to acquiring the rights of a purchaser, a protected purchaser also acquires its interest in the security free of any adverse claim.

T.C.A. § 47-8-303

Acts 1997, ch. 79, § 1.