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executed and April 15, 1987, when the partnership filed its
1986 income tax return. As discussed above, the Saztec
stock remained in the Steins' personal account until 1991.
Thus, neither the trust nor Mr. Stein, acting as trustee,
obtained physical possession of the stock. Furthermore,
there is no evidence that the trust or Mr. Stein, acting
as trustee, designated Broadcort or its agent, Steinberg &
Lyman, to acquire possession of the Saztec stock on the
trust's behalf, and there is no evidence that Broadcort or
its agent recognized any interest of the trust in the
Saztec stock. Thus, we cannot find delivery to the trust
under section 8313(a)(1) of the Pennsylvania Commercial
Code. Similarly, there is no evidence that the Saztec
stock was specially endorsed to or issued in the name of
the trust. Thus, we cannot find delivery to the trust
under section 8313(a)(2) of the Pennsylvania Commercial
Code. Furthermore, neither Broadcort nor its agent sent
a confirmation that it was holding the stock on behalf of
the trust. Thus, we cannot find delivery to the trust
under section 8313(a)(3) of the Pennsylvania Commercial
Code. Finally, neither section 8313(4) or (5) of the
Pennsylvania Commercial Code is applicable to the facts
of this case.
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