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Tex. Business & Commerce Code § 8.303

PROTECTED PURCHASER

Texas · Texas Business & Commerce Code · Status: effective

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Tex. Business & Commerce Code § 8.303, PROTECTED PURCHASER, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/630197
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(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.