§ 6A-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.
History of Section.P.L. 2000, ch. 182, § 5; P.L. 2000, ch. 420, § 5.
Structure Rhode Island General Laws
Title 6A - Uniform Commercial Code
Chapter 6A-8 - Investment Securities
Part 3 - Transfer of Certificated and Uncertificated Securities
Section 6A-8-302. - Rights of purchaser.
Section 6A-8-303. - Protected purchaser.
Section 6A-8-304. - Indorsement.
Section 6A-8-305. - Instruction.
Section 6A-8-306. - Effect of guaranteeing signature, indorsement, or instruction.
Section 6A-8-307. - Purchaser’s right to requisites for registration of transfer.