Statute · New York Uniform Commercial Code
N.Y. U.C.C. Law § 8-303 — Protected Purchaser
N.Y. U.C.C. Law § 8-303
- Type
- Statute
- Source
- New York Uniform Commercial Code
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
Section 8--303. Protected Purchaser.
Citator
N.Y. U.C.C. Law § 8-303 — Protected Purchaser is in force in the current edition of the Code, and nothing recorded condemns it.
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) A protected purchaser also acquires its interest in the security free of any adverse claim.