355.8-104 Acquisition of security or financial asset or interest therein.
(1) A person acquires a security or an interest therein, under this article, if:
(a) The person is a purchaser to whom a security is delivered pursuant to KRS
355.8-301; or
(b) The person acquires a security entitlement to the security pursuant to KRS
355.8-501.
(2) 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.
(3) A person who acquires a security entitlement to a security or other financial asset
has the rights specified in Part 5 of this article, but is a purchaser of any security, <br>security entitlement, or other financial asset held by the securities intermediary only <br>to the extent provided in KRS 355.8-503.
(4) 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, <br>surrender, exchange, or otherwise put in the possession of another person a security <br>or financial asset satisfies that requirement by causing the other person to acquire an <br>interest in the security or financial asset pursuant to subsection (1) or (2) of this <br>section.
Effective: January 1, 1997 <br>History: Repealed and reenacted 1996 Ky. Acts ch. 130, sec. 117, effective January 1,
1997. -- Amended 1986 Ky. Acts ch. 118, sec. 12, effective July 1, 1987. -- Created <br>1958 Ky. Acts ch. 77, sec. 8-104, effective July 1, 1960.
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