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.

Source: Section 8-303 — Protected Purchaser, https://www.­nysenate.­gov/legislation/laws/UCC/8-303 (updated Sep. 22, 2014; accessed Jun. 21, 2025).

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Verified:
Jun. 21, 2025

Last modified:
Sep. 22, 2014

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

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