(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.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 1 - Uniform Commercial Code
Chapter 8 - Investment Securities
Part 3 - Transfer of Certificated and Uncertificated Securities
§ 4-8-302. Rights of purchaser
§ 4-8-303. Protected purchaser
§ 4-8-306. Effect of guaranteeing signature, indorsement, or instruction
§ 4-8-307. Purchaser's right to requisites for registration of transfer