§ 8104. Acquisition of security or financial asset or interest
therein.
(a) Acquisition of security or interest therein.--A person acquires a security or an interest therein under this division if:
(1) the person is a purchaser to whom a security is delivered pursuant to section 8301 (relating to delivery); or
(2) the person acquires a security entitlement to the security pursuant to section 8501 (relating to securities account; acquisition of security entitlement from securities intermediary).
(b) Acquisition of financial asset or interest therein.--A person acquires a financial asset, other than a security, or an interest therein under this division if the person acquires a security entitlement to the financial asset.
(c) Acquisition of security entitlement.--A person who acquires a security entitlement to a security or other financial asset has the rights specified in Chapter 85 (relating to security entitlements) but is a purchaser of any security, security entitlement or other financial asset held by the securities intermediary only to the extent provided in section 8503 (relating to property interest of entitlement holder in financial asset held by securities intermediary).
(d) Satisfaction of possession requirement.--Unless the context shows that a different meaning is intended, a person who is required by other law, regulation, rule or agreement to transfer, deliver, present, surrender, exchange or otherwise put in the possession of another person a security or financial asset satisfies that requirement by causing the other person to acquire an interest in the security or financial asset pursuant to subsection (a) or (b).
Structure Pennsylvania Consolidated & Unconsolidated Statutes
Pennsylvania Consolidated & Unconsolidated Statutes
Chapter 81 - Short Title and General Matters
Section 8101 - Short title of division
Section 8104 - Acquisition of security or financial asset or interest therein
Section 8105 - Notice of adverse claim
Section 8107 - Whether indorsement, instruction or entitlement order is effective
Section 8108 - Warranties in direct holding
Section 8109 - Warranties in indirect holding
Section 8110 - Applicability; choice of law
Section 8111 - Clearing corporation rules
Section 8112 - Creditor's legal process
Section 8113 - Statute of frauds inapplicable
Section 8114 - Evidentiary rules concerning certificated securities
Section 8115 - Securities intermediary and others not liable to adverse claimant
Section 8116 - Securities intermediary as purchaser for value