§ 6A-8-303 - Protected purchaser. - Rhode Island Statutes

SECTION 6A-8-303

   § 6A-8-303  Protected purchaser. – (a) "Protected purchaser" means a purchaser of a certificated or uncertificatedsecurity, or of an interest therein, who:

   (1) gives value;

   (2) does not have notice of any adverse claim to thesecurity; and

   (3) obtains control of the certificated or uncertificatedsecurity.

   (b) In addition to acquiring the rights of a purchaser, aprotected purchaser also acquires its interest in the security free of anyadverse claim.