§ 11-8-303. Protected Purchaser

1. “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.
2. 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. Code 1981, § 11-8-303 , enacted by Ga. L. 1998, p. 1323, § 1.