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This entry was published on 2014-09-22
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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;


(3) obtains control of the certificated or uncertificated


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