2015 Arizona Revised Statutes
Title 47 - Uniform Commercial Code
§ 47-8104 Acquisition of security or financial asset or interest therein

47-8104. Acquisition of security or financial asset or interest therein

A. A person acquires a security or an interest therein, under this chapter, if:

1. The person is a purchaser to whom a security is delivered pursuant to section 47-8301.

2. The person acquires a security entitlement to the security pursuant to section 47-8501.

B. A person acquires a financial asset, other than a security, or an interest therein, under this chapter, 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 article 5 of this chapter, 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 47-8503.

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 subsection A or B of this section.