California Commercial Code Section 8104
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California Laws > Commercial Code > California Commercial Code Section 8104
8104. (a) A person acquires a security or an interest therein,
under this division, if either of the following applies:
(1) The person is a purchaser to whom a security is delivered
pursuant to Section 8301; or
(2) The person acquires a security entitlement to the security
pursuant to Section 8501.
(b) A person acquires a financial asset, other than a security, or
an interest therein, under this division, if the person acquires a
security entitlement to the financial asset.
(c) A person who acquires a security entitlement to a security or
other financial asset has the rights specified in Chapter 5
(commencing with Section 8501), but is a purchaser of any security,
security entitlement, or other financial asset held by the securities
intermediary only to the extent provided in Section 8503.
(d) Unless the context shows that a different meaning is intended,
a person who is required by other law, regulation, rule, or
agreement to transfer, deliver, present, surrender, exchange, or
otherwise put in the possession of another person a security or
financial asset satisfies that requirement by causing the other
person to acquire an interest in the security or financial asset
pursuant to subdivision (a) or (b).
Last modified: February 22, 2013