N.Y. Uniform Commercial Code Law Section 8-303
Protected Purchaser

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. * NB Effective until June 3, 2026 * (b) A protected purchaser also acquires its interest in the security free of any adverse claim. * NB Effective June 3, 2026

Source: Section 8-303 — Protected Purchaser, https://www.­nysenate.­gov/legislation/laws/UCC/8-303 (updated Dec. 12, 2025; accessed Dec. 13, 2025).

Green check means up to date. Up to date

Verified:
Dec. 13, 2025

Last modified:
Dec. 12, 2025

§ 8-303. Protected Purchaser's source at nysenate​.gov

Link Style