§490:8-301 Delivery. (a) Delivery of a certificated security to a purchaser occurs when:
(1) The purchaser acquires possession of the security certificate;
(2) Another person, other than a securities intermediary, either acquires possession of the security certificate on behalf of the purchaser or, having previously acquired possession of the certificate, acknowledges that it holds for the purchaser; or
(3) A securities intermediary acting on behalf of the purchaser acquires possession of the security certificate, only if the certificate is in registered form and is:
(A) Registered in the name of the purchaser;
(B) Payable to the order of the purchaser; or
(C) Specially indorsed to the purchaser by an effective indorsement and has not been indorsed to the securities intermediary or in blank.
(b) Delivery of an uncertificated security to a purchaser occurs when:
(1) The issuer registers the purchaser as the registered owner, upon original issue or registration of transfer; or
(2) Another person, other than a securities intermediary, either becomes the registered owner of the uncertificated security on behalf of the purchaser or, having previously become the registered owner, acknowledges that it holds for the purchaser. [L 1997, c 33, pt of §2; am L 2000, c 241, §25]
Section: Previous 490-8-204 490-8-205 490-8-206 490-8-207 490-8-208 490-8-209 490-8-210 490-8-301 490-8-302 490-8-303 490-8-304 490-8-305 490-8-306 490-8-307 490-8-401 NextLast modified: October 27, 2016