(a) Definition of "protected purchaser".-- "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. (b) Rights acquired by protected purchaser.-- A protected purchaser also acquires its interest in the security free of any adverse claim.
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