N.C. Gen. Stat. § 25-8-303
Protected purchaser
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
(1) "Protected purchaser" means a purchaser of a certificated or uncertificated security, or of an interest therein, who: Gives value;
(1) “Protected purchaser” means a purchaser of a certificated or uncertificated security, or of an interest therein, who: Gives value;
(2) Does not have notice of any adverse claim to the security; and
(2) Does not have notice of any adverse claim to the security; and
(3) Obtains control of the certificated or uncertificated security.
(3) Obtains control of the certificated or uncertificated security.
(4) In addition to acquiring the rights of a purchaser, a protected purchaser also acquires its interest in the security free of any adverse claim.
(4) In addition to acquiring the rights of a purchaser, a protected purchaser also acquires its interest in the security free of any adverse claim.
History
(1965, c. 700, s. 1; 1997-181, s. 1.)
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.