TITLE 11 COMMERCIAL CODE

Section 8. Investment Securities, 11-8-101 through 11-8-603.

ARTICLE 8 INVESTMENT SECURITIES

11-8-303. Protected purchaser.

1. "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.
2. In addition to acquiring the rights of a purchaser, a protected purchaser also acquires its interest in the security free of any adverse claim.

(Code 1981, §11-8-303, enacted by Ga. L. 1998, p. 1323, § 1.)