2002 Minnesota Statutes

  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. 

    HIST: 1995 c 194 art 1 s 29