RCW 62A.8-303: 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 also acquires its interest in the security free of any adverse claim.