Section 1308.17 | Protected purchaser - UCC 8-303.
(A) 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.
Available Versions of this Section
- January 1, 1998 – House Bill 170, 122nd General Assembly [ View January 1, 1998 Version ]