Part 3 Transfer of Certificated and Uncertificated Securities
Section 382-A:8-303
382-A: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) A protected purchaser also acquires its interest in the security free of any adverse claim.