§12A-8-301.

§12A-8-301.
   
   Delivery.
   
   (a) Delivery of a certificated security to a purchaser occurs when:
   
   (1) the purchaser acquires possession of the security certificate;
   
   (2) another person, other than a securities intermediary, either
   acquires possession of the security certificate on behalf of the
   purchaser or, having previously acquired possession of the
   certificate, acknowledges that it holds for the purchaser; or
   
   (3) a securities intermediary acting on behalf of the purchaser
   acquires possession of the security certificate, only if the
   certificate is in registered form and has been specially indorsed to
   the purchaser by an effective indorsement.
   
   (b) Delivery of an uncertificated security to a purchaser occurs when:
   
   (1) the issuer registers the purchaser as the registered owner, upon
   original issue or registration of transfer; or
   
   (2) another person, other than a securities intermediary, either
   becomes the registered owner of the uncertificated security on behalf
   of the purchaser or, having previously become the registered owner,
   acknowledges that it holds for the purchaser.