Protected purchaser

Va. Code Ann. § 8.8A-303, under Part 3. Transfer of Certificated and Uncertificated Securities..

Va. Code Ann. § 8.8A-303

(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 also acquires its interest in the security free of any adverse claim.