1. (a) “Protected purchaser” means a purchaser of a certificated or uncertificated security, or of an interest therein, who:

   1. (1) gives value;
   2. (2) does not have notice of any adverse claim to the security; and
   3. (3) obtains control of the certificated or uncertificated security.
2. (b) A protected purchaser acquires its interest in the security free of any adverse claim.

History of Section.
P.L. 2000, ch. 182, § 5; P.L. 2000, ch. 420, § 5; P.L. 2024, ch. 65, § 8, effective June 10, 2024; P.L. 2024, ch. 66, § 8, effective June 10, 2024.