Alabama § 7-8-104 Acquisition of Security or Financial Asset or Interest Therein

Alabama Statutes

§ 7-8-104 — Acquisition of Security or Financial Asset or Interest Therein

Alabama § 7-8-104

Title 7Commercial Code

Art. 8Investment Securities

Part 1Short Title and General Matters

This text of Alabama § 7-8-104 (Acquisition of Security or Financial Asset or Interest Therein) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 7-8-104 (2026).

Text

(a)A person acquires a security or an interest therein, under this article, if:

(1)the person is a purchaser to whom a security is delivered pursuant to Section 7-8-301; or

(2)the person acquires a security entitlement to the security pursuant to Section 7-8-501.

(b)A person acquires a financial asset, other than a security, or an interest therein, under this article, 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 Part 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 Section 7-8-503.

(d)Unless the context shows that a different meaning is intende

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(a) A person acquires a security or an interest therein, under this article, if:
(1) the person is a purchaser to whom a security is delivered pursuant to Section 7-8-301; or
(2) the person acquires a security entitlement to the security pursuant to Section 7-8-501.
(b) A person acquires a financial asset, other than a security, or an interest therein, under this article, 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 Part 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 Section 7-8-503.
(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).