SECTION 678.3011. Delivery.
Latest version.
1(1) 2Delivery of a certificated security to a purchaser occurs when:12(a) 13The purchaser acquires possession of the security certificate;
21(b) 22Another 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
57(c) 58A securities intermediary acting on behalf of the purchaser acquires possession of the security certificate, only if the certificate is in registered form and is registered in the name of the purchaser, payable to the order of the purchaser, or specially indorsed to the purchaser by an effective indorsement and has not been endorsed to the securities intermediary or in blank.
119(2) 120Delivery of an uncertificated security to a purchaser occurs when:130(a) 131The issuer registers the purchaser as the registered owner, upon original issue or registration of transfer; or
148(b) 149Another 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.
Bills Cite this Section:
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Cited by Court Cases:
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