§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) A protected purchaser acquires its interest in the security free of any adverse claim. [L 1997, c 33, pt of §2; am L 2023, c 132, §34]