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Section 8303 - Protected purchaser

13 PA Cons Stat § 8303 (2019) (N/A)
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§ 8303. Protected purchaser.

(a) Definition of "protected purchaser".--"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) Rights acquired by protected purchaser.--In addition to acquiring the rights of a purchaser, a protected purchaser also acquires its interest in the security free of any adverse claim.

Cross References. Section 8303 is referred to in section 8102 of this title.

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