30-8-114. Acquisition of security or financial asset or interest therein. (1) A person acquires a security or an interest therein, under this chapter, if:
     (a) the person is a purchaser to whom a security is delivered pursuant to 30-8-331; or
     (b) the person acquires a security entitlement to the security pursuant to 30-8-501.
     (2) A person acquires a financial asset, other than a security, or an interest therein, under this chapter, if the person acquires a security entitlement to the financial asset.
     (3) A person who acquires a security entitlement to a security or other financial asset has the rights specified in part 5 of this chapter, but is a purchaser of any security, security entitlement, or other financial asset held by the securities intermediary only to the extent provided in 30-8-503.
     (4) 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 (1) or (2).

     History: En. Sec. 24, Ch. 536, L. 1997.