Protected Purchaser.

  1. Law
  2. Oklahoma Statutes
  3. Commercial Code
  4. Protected Purchaser.

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Protected Purchaser.

(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.

Added by Laws 1961, p. 155, § 8-303. Amended by Laws 1984, c. 76, § 20, eff. Nov. 1, 1984; Laws 1995, c. 242, § 29, eff. Feb. 1, 1996.


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