70A-8-303 - Protected purchaser. - Utah Statutes

70A-8-303. Protected purchaser.
(1) "Protected purchaser" means a purchaser of a certificated or uncertificated security, orof an interest therein, who:
(a) gives value;
(b) does not have notice of any adverse claim to the security; and
(c) obtains control of the certificated or uncertificated security.
(2) In addition to acquiring the rights of a purchaser, a protected purchaser also acquiresits interest in the security free of any adverse claim.

Repealed and Re-enacted by Chapter 204, 1996 General Session