(a) A person acquires a security or an interest therein, under this chapter, if:
(1) the person is a purchaser to whom a security is delivered pursuant to § 4-8-301; or
(2) the person acquires a security entitlement to the security pursuant to § 4-8-501.
(b) A person acquires a financial asset, other than a security, or an interest therein, under this chapter, 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 subchapter 5, but is a purchaser of any security, security entitlement, or other financial asset held by the securities intermediary only to the extent provided in § 4-8-503.
(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 subsection (a) or (b).
Section: Previous 4-8-102 4-8-103 4-8-104 4-8-105 4-8-106 4-8-107 4-8-108 4-8-109 4-8-110 4-8-111 4-8-112 4-8-113 4-8-114 4-8-115 NextLast modified: November 15, 2016