---
title: O.C.G.A. § 11-8-303. Protected purchaser.
collection: code
id: 11-8-303
cite_as: O.C.G.A. § 11-8-303 (2025)
canonical_url: https://georgiacommons.org/code/11-8-303
md_url: https://georgiacommons.org/code/11-8-303.md
text_url: https://georgiacommons.org/code/11-8-303/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t11-(v9)-pdf.pdf?sfvrsn=df925151_0#page=70
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
up: https://georgiacommons.org/code/11-8.md
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version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: COMMERCIAL CODE / INVESTMENT SECURITIES / TRANSFER OF CERTIFICATED AND UNCERTIFICATED SECURITIES
---

# O.C.G.A. § 11-8-303. 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 acquires its interest in the security free of any adverse claim.

## History

Code 1981, § 11-8-303, enacted by Ga. L. 1998, p. 1323, § 1; Ga. L. 2024, p. 817, § 5-39/HB 1240, effective July 1, 2024.

## Editor's Notes

Ga. L. 2024, p. 817, § 1-1/HB 1240, not codified by the General Assembly, provides: “This Act shall be known and may be cited as the ‘Uniform Commercial Code Modernization Act of 2024.’”

Ga. L. 2024, p. 817, § 1-2/HB 1240, not codified by the General Assembly, provides: “Nothing in this Act shall be construed to support, endorse, create, or implement a national digital currency.”

## Amendments

The 2024 amendment, effective July 1, 2024, in subsection (b), substituted “A protected purchaser acquires” for “In addition to acquiring the rights of a purchaser, a protected purchaser also acquires”.