Montana § 30-8-114 Acquisition Of Security Or Financial Asset Or Interest Therein

Montana Statutes

§ 30-8-114 — Acquisition Of Security Or Financial Asset Or Interest Therein

Montana·Title 30 TRADE AND COMMERCE·Ch. 8 UNIFORM COMMERCIAL CODE INVESTMENT SECURITIES·Part 1 Short Title and General Matters

30-8-114 . Acquisition of security or financial asset or interest therein.

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

(a)the person is a purchaser to whom a security is delivered pursuant to 30-8-331 ; or

(b)the person acquires a security entitlement to the security pursuant to 30-8-501 .

(2)A person acquires a financial asset, other than a security, or an interest therein, under this chapter, if the person acquires a security entitlement to the financial asset.

(3)A person who acquires a security entitlement to a security or other financial asset has the rights specified in part 5 of this chapter, but is a purchaser of any security, security entitlement, or other financial asset held by the securities intermediary only to the extent provided in 30

Free access — add to your briefcase to read the full text and ask questions with AI

30-8-114 . Acquisition of security or financial asset or interest therein. (1) A person acquires a security or an interest therein, under this chapter, if:
(a) the person is a purchaser to whom a security is delivered pursuant to 30-8-331 ; or
(b) the person acquires a security entitlement to the security pursuant to 30-8-501 .
(2) A person acquires a financial asset, other than a security, or an interest therein, under this chapter, if the person acquires a security entitlement to the financial asset.
(3) A person who acquires a security entitlement to a security or other financial asset has the rights specified in part 5 of this chapter, but is a purchaser of any security, security entitlement, or other financial asset held by the securities intermediary only to the extent provided in 30-8-503 .
(4) 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 (1) or (2).

Montana § 30-8-114 (Acquisition Of Security Or Financial Asset Or Interest Therein) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.