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Current as of January 01, 2022 | Updated by FindLaw Staff
(1) “Protected purchaser” means a purchaser of a certificated or uncertificated security or of an interest in a certificated or uncertificated security who:
(a) Gives value;
(b) Does not have notice of any adverse claim to the security; and
(c) Obtains control of the certificated or uncertificated security.
(2) In addition to acquiring the rights of a purchaser, a protected purchaser also acquires its interest in the security free of any adverse claim.
Cite this article: FindLaw.com - Maine Revised Statutes Title 11. Uniform Commercial Code § 8-1303. Protected purchaser - last updated January 01, 2022 | https://codes.findlaw.com/me/title-11-uniform-commercial-code/me-rev-st-tit-11-sect-8-1303/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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