400.8-104. Acquisition of security or financial asset or interest therein. - Missouri Statutes

Acquisition of security or financial asset or interest therein.

400.8-104. (a) A person acquires a security or an interesttherein, under this article, if:

(1) The person is a purchaser to whom a security is deliveredpursuant to section 400.8-301; or

(2) The person acquires a security entitlement to the securitypursuant to section 400.8-501.

(b) A person acquires a financial asset, other than a security, or aninterest therein, under this article, if the person acquires a securityentitlement to the financial asset.

(c) A person who acquires a security entitlement to a security orother financial asset has the rights specified in sections 400.8-501 to400.8-510, but is a purchaser of any security, security entitlement orother financial asset held by the securities intermediary only to theextent provided in section 400.8-503.

(d) Unless the context shows that a different meaning is intended, aperson who is required by other law, regulation, rule or agreement totransfer, deliver, present, surrender, exchange or otherwise put in thepossession of another person a security or financial asset satisfies thatrequirement by causing the other person to acquire an interest in thesecurity or financial asset pursuant to subsection (a) or (b).

(L. 1963 p. 503 § 8-104, A.L. 1992 S.B. 448, A.L. 1997 S.B. 6)

*No continuity with § 400.8-104 as repealed by L. 1997 S.B. 6 § A.