§ 26-1-8.1-104 — Acquisition of a security or financial asset

Indiana § 26-1-8.1-104

• Jurisdiction: Indiana
• Title 26: COMMERCIAL LAW
• Art. 1: UNIFORM COMMERCIAL CODE
• Ch. 8.1: Investment Securities

Text

(a) A person acquires a security or an
interest therein, under IC 26-1-8.1, if:
(1) the person is a purchaser to whom a security is delivered
under IC 26-1-8.1-301; or
(2) the person acquires a security entitlement to the security under
IC 26-1-8.1-501.
(b) A person acquires a financial asset, other than a security, or an
interest therein, under IC 26-1-8.1, 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 IC 26-1-8.1-501 through
IC 26-1-8.1-511, but is a purchaser of any security, security
entitlement, or other financial asset held by the securities intermediary
only to the extent provided in IC 26-1-8.1-503.
(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 under subsection (a) or (b).

Legislative History

As added by P.L.247-1995, SEC.10.