Tennessee § 47-8-104 Acquisition of security or financial asset or interest therein

Tennessee Statutes

§ 47-8-104 — Acquisition of security or financial asset or interest therein

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

(1)the person is a purchaser to whom a security is delivered pursuant to § 47-8-301 ; or (2) the person acquires a security entitlement to the security pursuant to § 47-8-501 .

(b)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.

(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 § 47-8-503 .

(d)Unless the context shows that a different meaning is intended, a person

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(a) A person acquires a security or an interest therein, under this chapter, if: (1) the person is a purchaser to whom a security is delivered pursuant to § 47-8-301 ; or (2) the person acquires a security entitlement to the security pursuant to § 47-8-501 . (b) 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. (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 § 47-8-503 . (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).

Tennessee § 47-8-104 (Acquisition of security or financial asset or interest therein) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.