California Commercial Code CHAPTER 5 - Security Entitlements

  • Section 8501.
    (a) “Securities account” means an account to which a financial asset is or may be credited in accordance with an agreement under which the person maintaining...
  • Section 8502.
    An action based on an adverse claim to a financial asset, whether framed in conversion, replevin, constructive trust, equitable lien, or other theory, may not...
  • Section 8503.
    (a) To the extent necessary for a securities intermediary to satisfy all security entitlements with respect to a particular financial asset, all interests in that financial...
  • Section 8504.
    (a) A securities intermediary shall promptly obtain and thereafter maintain a financial asset in a quantity corresponding to the aggregate of all security entitlements it has...
  • Section 8505.
    (a) A securities intermediary shall take action to obtain a payment or distribution made by the issuer of a financial asset. A securities intermediary satisfies the...
  • Section 8506.
    A securities intermediary shall exercise rights with respect to a financial asset if directed to do so by an entitlement holder. A securities intermediary satisfies...
  • Section 8507.
    (a) A securities intermediary shall comply with an entitlement order if the entitlement order is originated by the appropriate person, the securities intermediary has had reasonable...
  • Section 8508.
    A securities intermediary shall act at the direction of an entitlement holder to change a security entitlement into another available form of holding for which...
  • Section 8509.
    (a) If the substance of a duty imposed upon a securities intermediary by Sections 8504 to 8508, inclusive, is the subject of a federal statute, regulation,...
  • Section 8510.
    (a) In a case not covered by the priority rules in Division 9 (commencing with Section 9101) or the rules stated in subdivision (c), an action...
  • Section 8511.
    (a) Except as otherwise provided in subdivisions (b) and (c), if a securities intermediary does not have sufficient interests in a particular financial asset to satisfy...

Last modified: October 22, 2018