1. (a) Protected purchaser means a purchaser of a certificated or uncertificated security, or of an interest therein, who:
2. (1) Gives value;
3. (2) Does not have notice of any adverse claim to the security; and
4. (3) Obtains control of the certificated or uncertificated security.
5. (b) A protected purchaser also acquires its interest in the security free of any adverse claim.

Source: L. 96: Entire article R&RE, p. 221, § 2, effective July 1. L. 2023: (b) amended, (SB 23-090), ch. 136, p. 539, § 41, effective August 7.

Editor's note: This section is similar to former §§ 4-8-302 and 4-8-311 as they existed prior to 1996.