Protected Purchaser

1. Law
2. Tennessee Code
3. Commercial Instruments and Transactions
4. Investment Securities
5. Transfer of Certificated and Uncertificated Securities
6. Protected Purchaser

1. “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.
2. In addition to acquiring the rights of a purchaser, a protected purchaser also acquires its interest in the security free of any adverse claim.

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