California · Commercial Code
COM §8303: (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.
What this law says, in plain English
A 'protected purchaser' is someone who buys a security or interest in one and provides value in exchange.
Read the full statutory text
(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.
Verify at the official source: California legislative text
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This page is legal information, not legal advice. Code text is sourced from official publications and may lag amendments — always confirm at the official source linked above. Plain-English summaries and relationship data are AI-derived and reviewed on an ongoing basis; verify with a licensed attorney before acting.