Cal. COM § 8303
This is the official text of Cal. COM § 8303, part of California’s Commercial Code — california's version of the Uniform Commercial Code, governing sales, negotiable instruments, and secured transactions.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Official statutory text
(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.
(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.
Status: in_force · Read it on the official government site
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