Sec. 45.08.104. Acquisition of security or financial asset or interest in security or financial asset.

215 words·~1 min read·/ak/title-45/chapter-8/45-08-104

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)A person acquires a security or an interest in a security under this chapter if the person

(1)is a purchaser to whom a security is delivered under AS 45.08.301 ; or

(2)acquires a security entitlement to the security under AS 45.08.501 .

(b)A person acquires a financial asset other than a security or an interest in a financial asset other than a security, under this chapter if the person acquires a security entitlement to the financial asset.

(c)A person who acquires a security entitlement to a security or other financial asset has the rights specified in AS 45.08.501 — 45.08.511, but is a purchaser of a security, security entitlement, or other financial asset held by the securities intermediary only to the extent provided in AS 45.08.503 .

(d)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 under

(a)or

(b)of this section.