N.J.S.A. 12A:8-303

Protected Purchaser.

12A: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. L.1997,c.252,s.1.

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This is the verbatim text of N.J.S.A. 12A:8-303, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.

N.J.S.A. 12A:8-303 — Protected Purchaser. | Kyzer