30-8-333. Protected purchaser. (1) “Protected purchaser” means a purchaser of a certificated or uncertificated security, or of an interest therein, who:

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(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.