(1) A person acquires a security or an interest therein under this chapter if:
(a) The person is a purchaser to whom a security is delivered pursuant to ORS 78.3010; or
(b) The person acquires a security entitlement to the security pursuant to ORS 78.5010.
(2) 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.
(3) A person who acquires a security entitlement to a security or other financial asset has the rights specified in ORS 78.5010 to 78.5110, but is a purchaser of any security, security entitlement or other financial asset held by the securities intermediary only to the extent provided in ORS 78.5030.
(4) 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 (1) or (2) of this section. [1961 c.726 §78.1040; 1985 c.676 §78.1040; 1995 c.328 §4]
Section: Previous 78.1010 78.1020 78.1030 78.1040 78.1050 78.1060 78.1070 78.1080 78.1090 78.1100 78.1110 78.1120 78.1130 78.1140 78.1150 NextLast modified: August 7, 2008