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Tenn. Code Ann. § 47-8-303

Protected purchaser

Known as the Uniform Commercial Code

The act spans §§ 47–47 (578 sections).

Acts 1997, ch. 79, § 1.

(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

(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.

Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.