§12A-8-501.

§12A-8-501.
   
   Securities Account; Acquisition of Security Entitlement from
   Securities Intermediary.
   
   (a) "Securities account" means an account to which a financial asset
   is or may be credited in accordance with an agreement under which the
   person maintaining the account undertakes to treat the person for whom
   the account is maintained as entitled to exercise the rights that
   comprise the financial asset.
   
   (b) Except as otherwise provided in subsections (d) and (e) of this
   section, a person acquires a security entitlement if a securities
   intermediary:
   
   (1) indicates by book entry that a financial asset has been credited
   to the person's securities account;
   
   (2) receives a financial asset from the person or acquires a financial
   asset for the person and, in either case, accepts it for credit to the
   person's securities account; or
   
   (3) becomes obligated under other law, regulation, or rule to credit a
   financial asset to the person's securities account.
   
   (c) If a condition of subsection (b) of this section has been met, a
   person has a security entitlement even though the securities
   intermediary does not itself hold the financial asset.
   
   (d) If a securities intermediary holds a financial asset for another
   person, and the financial asset is registered in the name of, payable
   to the order of, or specially indorsed to the other person, and has
   not been indorsed to the securities intermediary or in blank, the
   other person is treated as holding the financial asset directly rather
   than as having a security entitlement with respect to the financial
   asset.
   
   (e) Issuance of a security is not establishment of a security
   entitlement.