§ 8104
198 words·~1 min read·
/ca/commercial-code/8104A 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 therein, under this division, if either of the following applies:
(1)The person is a purchaser to whom a security is delivered pursuant to Section 8301; or
(2)The person acquires a security entitlement to the security pursuant to Section 8501.
(b)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)A person who acquires a security entitlement to a security or other financial asset has the rights specified in Chapter 5 (commencing with Section 8501), 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.
(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 pursuant to subdivision
(a)or (b).