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Section 336.8-303 — Protected Purchaser.

MN Stat § 336.8-303 (2019) (N/A)
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336.8-303 MS 1994 [Repealed, 1995 c 194 art 1 s 53] 336.8-303 PROTECTED PURCHASER.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.

History: 1995 c 194 art 1 s 29

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