Iowa Code § 554.8303
Protected purchaser
Redline — January 1, 2012 → current.View current text →
Current — January 1, 2013
As of January 1, 2012
1. “Protected purchaser” means a purchaser of a certificated or uncertificated security, or of an interest therein, who:
1. “Protected purchaser” means a purchaser of a certificated or uncertificated security, or of an interest therein, who:
a. gives value;
a. gives value;
b. does not have notice of any adverse claim to the security; and
b. does not have notice of any adverse claim to the security; and
c. obtains control of the certificated or uncertificated security.
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.
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.
89 Acts, ch 113, §18; 96 Acts, ch 1138, §36, 84
89 Acts, ch 113, §18; 96 Acts, ch 1138, §36, 84
Referred to in
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.