Code of Virginia - Title 8.8A Commercial Code - Investment Securities - Part 5 Security Entitlements

• 8.8A-501 Securities account; acquisition of security entitlement from securities intermediary
  (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 ...
• 8.8A-502 Assertion of adverse claim against entitlement holder
  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 ...
• 8.8A-503 Property interest of entitlement holder in financial asset held by securities intermediar...
  (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 ...
• 8.8A-504 Duty of securities intermediary to maintain financial asset
  (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 ...
• 8.8A-505 Duty of securities intermediary with respect to payments and distributions
  (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 ...
• 8.8A-506 Duty of securities intermediary to exercise rights as directed by entitlement holder
  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 ...
• 8.8A-507 Duty of securities intermediary to comply with entitlement order
  (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 ...
• 8.8A-508 Duty of securities intermediary to change entitlement holder's position to other form of security h...
  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 ...
• 8.8A-509 Specification of duties of securities intermediary by other statute or regulation; manner of perfor...
  (a) If the substance of a duty imposed upon a securities intermediary by §§ 8.8A-504 through 8.8A-508 is the subject of other statute, regulation, or ...
• 8.8A-510 Rights of purchaser of security entitlement from entitlement holder
  (a) In a case not covered by the priority rules in Title 8.9A or the rules stated in subsection (c), an action based on an ...
• 8.8A-511 Priority among security interests and entitlement holders
  (a) Except as otherwise provided in subsections (b) and (c), if a securities intermediary does not have sufficient interests in a particular financial asset to ...

Last modified: April 3, 2009