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  • SECTION 8-302
    Rights of Purchaser
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  • PART 3
    Transfer of Certificated and Uncertificated Securities
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  • SECTION 8-304
    Indorsement
    • This entry was published on 2014-09-22
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    SECTION 8-303

    Protected Purchaser

    Uniform Commercial Code (UCC) CHAPTER 38, ARTICLE 8, PART 3

    Section 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) In addition to acquiring the rights of a purchaser, a protected
    purchaser also acquires its interest in the security free of any adverse
    claim.