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. [C66, 71, 73, 75, 77, 79, 81, §554.8303 ] 89 Acts, ch 113, §18 ; 96 Acts, ch 1138, §36, 84 Referred to in §554.8102 , 554.9102