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Cal. Com. Code § 8303

Transfer of Certificated and Uncertificated Securities

Known as the Uniform Commercial Code

The act spans §§ 1101–12107 (623 sections).

Amended by Stats. 2023, Ch. 210, Sec. 23

(a) “Protected purchaser” means a purchaser of a certificated or uncertificated security, or of an interest therein, who does all of the following:

(1) Gives value.

(2) Does not have notice of any adverse claim to the security.

(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.

Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.