§8–303.

    (a)    “Protected purchaser” means a purchaser of a certificated or uncertificated security, or of an interest in a certificated or uncertificated security, 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.