Protected Purchaser
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New York Code › Act UCC › Article 8 › Part 3 › Section 8-303
Text
Section 8--303. Protected Purchaser.\n (a) "Protected purchaser" means a purchaser of a certificated or\nuncertificated security, or of an interest therein, who:\n (1) gives value;\n (2) does not have notice of any adverse claim to the security;\n and\n (3) obtains control of the certificated or uncertificated\n security.\n (b) A protected purchaser also acquires its interest in the security\nfree of any adverse claim.\n
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