Section 8303.
Cal. Commercial Code - COM § 8303.
in effect(a)
“Protected purchaser” means a purchaser of a certificated or uncertificated security, or of an interest therein, who does all of the following:
(1)
Gives value.
(2)
Does not have notice of any adverse claim to the security.
(3)
Obtains control of the certificated or uncertificated security.
(b)
A protected purchaser also acquires its interest in the security free of any adverse claim.
Source: CA Legislative Counsel Bulk DataURL: https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zipFetched: 6/27/2026