Section 336.8-303 Protected Purchaser
336.8-303 MS 1994 [Repealed, 1995 c 194 art 1 s 53]
336.8-303 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.
History:
1995 c 194 art 1 s 29