Protected purchaser. (Effective until January 1, 2024.)
(1) "Protected purchaser" means a purchaser of a certificated or uncertificated security, or of an interest therein, who:
(a) Gives value;
(b) Does not have notice of any adverse claim to the security; and
(c) 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.
NOTES:
Protected purchaser. (Effective January 1, 2024.)
(1) "Protected purchaser" means a purchaser of a certificated or uncertificated security, or of an interest therein, who:
(a) Gives value;
(b) Does not have notice of any adverse claim to the security; and
(c) Obtains control of the certificated or uncertificated security.
(2) A protected purchaser also acquires its interest in the security free of any adverse claim.
NOTES:
Construction—Effective date—2023 c 266: See notes following RCW
62A.12-101.