Indiana Code 26-1-8.1-303. “Protected purchaser” defined; acquisition of interest free of adverse claims
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Sec. 303. (a) “Protected purchaser” means a purchaser of a certificated or uncertificated security, or of an interest therein, who:
(2) does not have notice of any adverse claim to the security; and
(1) gives value;
(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.
As added by P.L.247-1995, SEC.10. Amended by P.L.199-2023, SEC.39.