Code of Virginia (Last Updated:July 28, 2020) |
TITLE 8.8A. Commercial Code - Investment Securities |
PART 3. Transfer of Certificated and Uncertificated Securities |
SECTION 8.8A-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. 1996, c. 216 . |