ORS 78.3030: “Protected purchaser.”

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