N.C. Gen. Stat. § 25-8-303

Current through Session Law 2024-58

Section 25-8-303 - 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.

N.C. Gen. Stat. § 25-8-303

1965, c. 700, s. 1; 1997-181, s. 1.