California Codes
Cal. Commercial Code § 8303 (2026)
✓ current as of May 2026
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(a)“Protected purchaser” means a purchaser of a certificated or uncertificated security, or of an interest therein, who does all of the following:
(1)Gives value.
(2)Does not have notice of any adverse claim to the security.
(3)Obtains control of the certificated or uncertificated security.
(b)A protected purchaser also acquires its interest in the security free of any adverse claim.
Notes of Decisions
Cited in 2
cases, 2003–2018 · leading case: Sionix Corp. v. Moorehead, 299 F. Supp. 2d 1082 (S.D. Cal. 2003).
Sionix Corp. v. Moorehead, 299 F. Supp. 2d 1082 (S.D. Cal. 2003). “In an order dated September 18, 2000, the Court found Cowart established he was a protected purchaser under California Commercial Code section 8303 as to the 1,050,-000 shares of Sionix stock he purchased from S.”
Benjamin Feldman v. YIDL Trust (Del. Ch. 2018). “Compare Cal. Com. Code § 8303 , with 6 Del. C. § 8-303.”
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