(810 ILCS 5/8-303) (from Ch. 26, par. 8-303)
    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.)