§490:8-303 - Protected purchaser. - Hawaii Statutes

     §490:8-303  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 33, pt of §2]