§ 8-301 — Delivery

New York § 8-301

• Jurisdiction: New York
• Law UCC: Uniform Commercial Code
• Part 3: Transfer of Certificated and Uncertificated Securities
• Art. 8: Investment Securities

Text

Section 8--301. Delivery.\n (a) Delivery of a certificated security to a purchaser occurs when:\n (1) the purchaser acquires possession of the security\n certificate;\n (2) another person, other than a securities intermediary, either\n acquires possession of the security certificate on behalf of\n the purchaser or, having previously acquired possession of\n the certificate, acknowledges that it holds for the\n purchaser; or\n (3) a securities intermediary acting on behalf of the purchaser\n acquires possession of the security certificate, only if the\n certificate is in registered form and is (i) registered in\n the name of the purchaser, (ii) payable to the order of the\n purchaser, or (iii) specially indorsed to the purchaser by an\n effective indorsement and has not been indorsed to the\n securities intermediary or in blank.\n (b) Delivery of an uncertificated security to a purchaser occurs when:\n (1) the issuer registers the purchaser as the registered owner,\n upon original issue or registration of transfer; or\n (2) another person, other than a securities intermediary, either\n becomes the registered owner of the uncertificated security\n on behalf of the purchaser or, having previously become the\n registered owner, acknowledges that it holds for the\n purchaser.\n