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§12A-8-104.
§12A-8-104.
Acquisition of Security on Financial Asset or Interest Therein.
(a) A person acquires a security or an interest therein, under this
article, if:
(1) the person is a purchaser to whom a security is delivered pursuant
to Section 8-301 of this title; or
(2) the person acquires a security entitlement to the security
pursuant to Section 8-501 of this title.
(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 of this code,
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 8-503 of this title.
(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
satisfied 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.
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