13 Pa. C.S. § 8303

Current through Pa Acts 2024-53, 2024-56 through 2024-92

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

13 Pa.C.S. § 8303

Amended by P.L. (number not assigned at time of publication) 2024 No. 41,§ 15, eff. 8/30/2024.

1996 , May 22, P.L. 248, No. 44, § 8, effective in 180 days.