2006 Minnesota Statutes

336.8-104 MS 1994 [Repealed, 1995 c 194 art 1 s 53]
336.8-104 ACQUISITION OF SECURITY OR FINANCIAL ASSET OR INTEREST
THEREIN.
(a) A person acquires a security or an interest therein, under this article, if:
(1) the person is a purchaser to whom a security is delivered pursuant to section 336.8-301; or
(2) the person acquires a security entitlement to the security pursuant to section 336.8-501.
(b) A person acquires a financial asset, other than a security, or an interest therein, under this
article, 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 part 5, 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 336.8-503.
(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
pursuant to subsection (a) or (b).
History: 1995 c 194 art 1 s 4