Maryland Statutes
Subtitle 3 - Transfer of Certificated and Uncertificated Securities
Section 8-303 - Protected Purchaser

(a)    “Protected purchaser” means a purchaser of a certificated or uncertificated security, or of an interest in a certificated or uncertificated security, 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 Maryland Statutes