400.8-303. Protected purchaser. - Missouri Statutes

Protected purchaser.

400.8-303. (a) "Protected purchaser" means a purchaser of acertificated 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 protectedpurchaser also acquires its interest in the security free of any adverseclaim.

(L. 1963 p. 503 § 8-303, A.L. 1992 S.B. 448, A.L. 1997 S.B. 6)

*No continuity with § 400.8-303 as repealed by L. 1997 S.B. 6 § A.