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490:8-303 Protected purchaser.

HI Rev Stat § 490:8-303 (2019) (N/A)
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§490:8-303 Protected purchaser. (a) "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.

(b) In addition to acquiring the rights of a purchaser, a protected purchaser also acquires its interest in the security free of any adverse claim. [L 1997, c 33, pt of §2]

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