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Part 1 - Short Title and General Matters.
Section 7-8-101 - Short Title. - This article may be cited as Uniform Commercial Code -...
Section 7-8-102 - Definitions. - (a) In this article: (1) "Adverse claim" means a claim...
Section 7-8-103 - Rules for Determining Whether Certain Obligations and Interests Are Securities or Financial Assets. - (a) A share or similar equity interest issued by a...
Section 7-8-104 - Acquisition of Security or Financial Asset or Interest Therein. - (a) A person acquires a security or an interest therein,...
Section 7-8-105 - Notice of Adverse Claim. - (a) A person has notice of an adverse claim if:...
Section 7-8-106 - Control. - (a) A purchaser has "control" of a certificated security in...
Section 7-8-107 - Whether Indorsement, Instruction, or Entitlement Order Is Effective. - (a) "Appropriate person" means: (1) with respect to an indorsement,...
Section 7-8-108 - Warranties in Direct Holding. - (a) A person who transfers a certificated security to a...
Section 7-8-109 - Warranties in Indirect Holding. - (a) A person who originates an entitlement order to a...
Section 7-8-110 - Applicability; Choice of Law. - (a) The local law of the issuer's jurisdiction, as specified...
Section 7-8-111 - Clearing Corporation Rules. - A rule adopted by a clearing corporation governing rights and...
Section 7-8-112 - Creditor's Legal Process. - (a) The interest of a debtor in a certificated security...
Section 7-8-113 - Statute of Frauds Inapplicable. - A contract or modification of a contract for the sale...
Section 7-8-114 - Evidentiary Rules Concerning Certificated Securities. - The following rules apply in an action on a certificated...
Section 7-8-115 - Securities Intermediary and Others Not Liable to Adverse Claimant. - A securities intermediary that has transferred a financial asset pursuant...
Section 7-8-116 - Securities Intermediary as Purchaser for Value. - A securities intermediary that receives a financial asset and establishes...
Part 2 - Issue and Issuer.
Section 7-8-201 - Issuer. - (a) With respect to an obligation on or a defense...
Section 7-8-202 - Issuer's Responsibility and Defenses; Notice of Defect or Defense. - (a) Even against a purchaser for value and without notice,...
Section 7-8-203 - Staleness as Notice of Defect or Defense. - After an act or event, other than a call that...
Section 7-8-204 - Effect of Issuer's Restriction on Transfer. - A restriction on transfer of a security imposed by the...
Section 7-8-205 - Effect of Unauthorized Signature on Security Certificate. - An unauthorized signature placed on a security certificate before or...
Section 7-8-206 - Completion or Alteration of Security Certificate. - (a) If a security certificate contains the signatures necessary to...
Section 7-8-207 - Rights and Duties of Issuer With Respect to Registered Owners. - (a) Before due presentment for registration of transfer of a...
Section 7-8-208 - Effect of Signature of Authenticating Trustee, Registrar, or Transfer Agent. - (a) A person signing a security certificate as authenticating trustee,...
Section 7-8-209 - Issuer's Lien. - A lien in favor of an issuer upon a certificated...
Section 7-8-210 - Overissue. - (a) In this section, "overissue" means the issue of securities...
Part 3 - Transfer of Certificated and Uncertificated Securities.
Section 7-8-301 - Delivery. - (a) Delivery of a certificated security to a purchaser occurs...
Section 7-8-302 - Rights of Purchaser. - (a) Except as otherwise provided in subsections (b) and (c),...
Section 7-8-303 - Protected Purchaser. - (a) "Protected purchaser" means a purchaser of a certificated or...
Section 7-8-304 - Indorsement. - (a) An indorsement may be in blank or special. An...
Section 7-8-305 - Instruction. - (a) If an instruction has been originated by an appropriate...
Section 7-8-306 - Effect of Guaranteeing Signature, Indorsement, or Instruction. - (a) A person who guarantees a signature of an indorser...
Section 7-8-307 - Purchaser's Right to Requisites for Registration of Transfer. - Unless otherwise agreed, the transferor of a security on due...
Part 4 - Registration.
Section 7-8-401 - Duty of Issuer to Register Transfer. - (a) If a certificated security in registered form is presented...
Section 7-8-402 - Assurance That Indorsement or Instruction Is Effective. - (a) An issuer may require the following assurance that each...
Section 7-8-403 - Demand That Issuer Not Register Transfer. - (a) A person who is an appropriate person to make...
Section 7-8-404 - Wrongful Registration. - (a) Except as otherwise provided in Section 7-8-406, an issuer...
Section 7-8-405 - Replacement of Lost, Destroyed, or Wrongfully Taken Security Certificate. - (a) If an owner of a certificated security, whether in...
Section 7-8-406 - Obligation to Notify Issuer of Lost, Destroyed, or Wrongfully Taken Security Certificate. - If a security certificate has been lost, apparently destroyed, or...
Section 7-8-407 - Authenticating Trustee, Transfer Agent, and Registrar. - A person acting as authenticating trustee, transfer agent, registrar, or...
Part 5 - Security Entitlements.
Section 7-8-501 - Securities Account; Acquisition of Security Entitlement From Securities Intermediary. - (a) "Securities account" means an account to which a financial...
Section 7-8-502 - Assertion of Adverse Claim Against Entitlement Holder. - An action based on an adverse claim to a financial...
Section 7-8-503 - Property Interest of Entitlement Holder in Financial Asset Held by Securities Intermediary. - (a) To the extent necessary for a securities intermediary to...
Section 7-8-504 - Duty of Securities Intermediary to Maintain Financial Asset. - (a) A securities intermediary shall promptly obtain and thereafter maintain...
Section 7-8-505 - Duty of Securities Intermediary With Respect to Payments and Distributions. - (a) A securities intermediary shall take action to obtain a...
Section 7-8-506 - Duty of Securities Intermediary to Exercise Rights as Directed by Entitlement Holder. - A securities intermediary shall exercise rights with respect to a...
Section 7-8-507 - Duty of Securities Intermediary to Comply With Entitlement Order. - (a) A securities intermediary shall comply with an entitlement order...
Section 7-8-508 - Duty of Securities Intermediary to Change Entitlement Holder's Position to Other Form of Security Holding. - A securities intermediary shall act at the direction of an...
Section 7-8-509 - Specification of Duties of Securities Intermediary by Other Statute or Regulation; Manner of Performance of Duties of Securities Intermediary and Exercise of Rights of Entitlement Holder. - (a) If the substance of a duty imposed upon a...
Section 7-8-510 - Rights of Purchaser of Security Entitlement From Entitlement Holder. - (a) In a case not covered by the priority rules...
Section 7-8-511 - Priority Among Security Interests and Entitlement Holders. - (a) Except as otherwise provided in subsections (b) and (c),...
Part 6 - Effective Date.
Section 7-8-601 - Effective Date. - This act takes effect January 1, 1996.
Section 7-8-602 - Repeals. - This act repeals Sections 8-6-70 through 8-6-80, cited as the...
Section 7-8-603 - Savings Clause. - (a) This act does not affect an action or proceeding...