47-8303. 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.