1999 Minnesota Statutes

  336.8-301 Delivery. 

    (a) Delivery of a certificated security to a purchaser 
 occurs when: 

    (1) the purchaser acquires possession of the security 
 certificate; 

    (2) another person, other than a securities intermediary, 
 either acquires possession of the security certificate on behalf 
 of the purchaser or, having previously acquired possession of 
 the certificate, acknowledges that it holds for the purchaser; 
 or 

    (3) a securities intermediary acting on behalf of the 
 purchaser acquires possession of the security certificate, only 
 if the certificate is in registered form and has been specially 
 endorsed to the purchaser by an effective endorsement. 

    (b) Delivery of an uncertificated security to a purchaser 
 occurs when: 

    (1) the issuer registers the purchaser as the registered 
 owner, upon original issue or registration of transfer; or 

    (2) another person, other than a securities intermediary, 
 either becomes the registered owner of the uncertificated 
 security on behalf of the purchaser or, having previously become 
 the registered owner, acknowledges that it holds for the 
 purchaser.  

    HIST: 1995 c 194 art 1 s 27