§ 26-1-8.1-301 — Delivery of security

Indiana § 26-1-8.1-301

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

Text

(a) Delivery of a certificated security to
a purchaser occurs when:
(1) the purchaser acquires possession of the security certificate;
(2) another person, other than a securities intermediary, either
acquires possession of the security certificate on behalf of the
purchaser or, having previously acquired possession of the
certificate, acknowledges that it holds for the purchaser; or
(3) a securities intermediary acting on behalf of the purchaser
acquires possession of the security certificate, only if the
certificate is in registered form and is (i) registered in the name of
the purchaser, (ii) payable to the order of the purchaser, or (iii)
specially endorsed to the purchaser by an effective endorsement
and has not been endorsed to the securities intermediary or in
blank.
(b) Delivery of an uncertificated security to a purchaser occurs
when:
(1) the issuer registers the purchaser as the registered owner, upon
original issue or registration of transfer; or
(2) another person, other than a securities intermediary, either
becomes the registered owner of the uncertificated security on
behalf of the purchaser or, having previously become the
registered owner, acknowledges that it holds for the purchaser.

Legislative History

As added by P.L.247-1995, SEC.10. Amended by P.L.57-2000, SEC.42.