Tex. Bus. & Com. Code § 8.303

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 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.

Tex. Bus. and Comm. Code § 8.303

Amended by Acts 1995, 74th Leg., ch. 962, Sec. 1, eff. 9/1/1995.