2007 Minnesota Statutes

336.8-301 MS 1994 [Repealed, 1995 c 194 art 1 s 53]
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 is (i) registered in the name of
the purchaser, (ii) payable to the order of the purchaser, or (iii) specially endorsed to the purchaser
by an effective endorsement and has not been endorsed to the securities intermediary or in blank.
(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.
History: 1995 c 194 art 1 s 27; 2000 c 399 art 2 s 18