(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) A protected purchaser also acquires its interest in the security free of any adverse claim.
Protected Purchaser
Mont. Code Ann. § 30-8-333, under Transfer of Certificated and Uncertificated Securities.
Mont. Code Ann. § 30-8-333