Connecticut General Statutes Title 42A. Uniform Commercial Code § 42a-8-104 § 42a-8-104. Acquisition of security or financial asset or interest therein
Current as of June 28, 2021 | Updated by FindLaw Staff
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(a) A person acquires a security or an interest therein, under this article, 1 if:
(1) The person is a purchaser to whom a security is delivered pursuant to section 42a-8-301; or
(2) The person acquires a security entitlement to the security pursuant to section 42a-8-501.
(b) A person acquires a financial asset, other than a security, or an interest therein, under this article, 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 section 42a-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) of this section.
Cite this article: FindLaw.com - Connecticut General Statutes Title 42A. Uniform Commercial Code § 42a-8-104 § 42a-8-104. Acquisition of security or financial asset or interest therein - last updated June 28, 2021 | https://codes.findlaw.com/ct/title-42a-uniform-commercial-code/ct-gen-st-sect-42a-8-104/
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