There Is a Newer Version
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the Vermont Statutes
2011 Vermont Code
Title 09A Uniform Commercial Code
Article 8 Investment Securities
§ 303 Protected purchaser
Universal Citation:
9A VT Stats § 8-303. (2011 through Adj Sess)
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§ 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. (Added 1995, No. 92 (Adj. Sess.), § 1, eff. Jan. 1, 1997.)
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