§ 8-104
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/md/commercial-law/8-104A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§8–104.
(a)A person acquires a security or an interest in a security, under this title, if:
(1)The person is a purchaser to whom a security is delivered in accordance with § 8-301 of this title; or
(2)The person acquires a security entitlement to the security in accordance with § 8-501 of this title.
(b)A person acquires a financial asset, other than a security, or an interest in a financial asset, under this title, 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 Subtitle 5 of this title, but is a purchaser of any security, security entitlement, or other financial asset held by the securities intermediary only to the extent provided in § 8-503 of this title.
(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 in accordance with subsection
(a)or
(b)of this section.