Illinois General Assembly - Illinois Compiled Statutes

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810 ILCS 5/8-303

    (810 ILCS 5/8-303) (from Ch. 26, par. 8-303)
    (Text of Section before amendment by P.A. 103-1036)
    Sec. 8-303. Protected purchaser.

(a) "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) In addition to acquiring the rights of a purchaser, a protected
purchaser also acquires its interest in the security free of any adverse
claim.

(Source: P.A. 89-364, eff. 1-1-96.)

    (Text of Section after amendment by P.A. 103-1036)
    Sec. 8-303. Protected purchaser.

(a) "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) A protected purchaser also acquires its interest in the security free of any adverse claim.
(Source: P.A. 103-1036, eff. 1-1-25.)