11 M.R.S. §8-1303: Protected purchaser

(1). "Protected purchaser" means a purchaser of a certificated or uncertificated security or of an interest in a certificated or uncertificated security who:

(a). Gives value;

(b). Does not have notice of any adverse claim to the security; and

(c). Obtains control of the certificated or uncertificated security.

(2). A protected purchaser acquires its interest in the security free of any adverse claim.