State Codes and Statutes
Statutes > Idaho > Title28 > T28ch8 > T28ch8pt3 > T28ch8sect28-8-303COMMERCIAL TRANSACTIONS
CHAPTER 8
INVESTMENT SECURITIES
PART 3.
TRANSFER OF CERTIFICATED AND UNCERTIFICATED SECURITIES
28-8-303. 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) In addition to acquiring the rights of a purchaser, a protected purchaser also acquires its interest in the security free of any adverse claim.
