Tex. Business & Commerce Code § 8.303
This is the official text of Tex. Business & Commerce Code § 8.303, part of Texas’s Business & Commerce Code — governs commercial transactions and general business practices.
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§ 8.303. PROTECTED PURCHASER.
Official statutory text
(a) "Protected purchaser" means a purchaser of a certificated or uncertificated security, or of an interest therein, who:
(1) gives value;
(2) does not have notice of any adverse claim to the security; and
(3) obtains control of the certificated or uncertificated security.
(b) In addition to acquiring the rights of a purchaser, 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; and
(3) obtains control of the certificated or uncertificated security.
(b) In addition to acquiring the rights of a purchaser, 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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