8.8A-104 - A-104. Acquisition of security or financial asset or interest therein. - Virginia Statutes

§ 8.8A-104. Acquisition of security or financial asset or interest therein.

(a) A person acquires a security or an interest therein, under this title, if:

(1) the person is a purchaser to whom a security is delivered pursuant to §8.8A-301; or

(2) the person acquires a security entitlement to the security pursuant to §8.8A-501.

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

(c) A person who acquires a security entitlement to a security or otherfinancial asset has the rights specified in Part 5, but is a purchaser of anysecurity, security entitlement, or other financial asset held by thesecurities intermediary only to the extent provided in § 8.8A-503.

(d) Unless the context shows that a different meaning is intended, a personwho is required by other law, regulation, rule, or agreement to transfer,deliver, present, surrender, exchange, or otherwise put in the possession ofanother person a security or financial asset satisfies that requirement bycausing the other person to acquire an interest in the security or financialasset pursuant to subsection (a) or (b).

(1996, c. 216.)