Section 34.1-8-303 - Protected purchaser(a) "Protected purchaser" means a purchaser of a certificated or uncertificated security, or of an interest therein, who: (ii) Does not have notice of any adverse claim to the security; and (iii) 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.