§490:8-303 - Protected purchaser.

§490:8-303  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. [L 1997, c 33, pt of §2]