§ 8.8A-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. A protected purchaser also acquires its interest in the security free of any adverse claim.