Acquisition of security or financial asset or interest therein

1. Law
2. Mississippi Code
3. Regulation of Trade, Commerce and Investments
4. Uniform Commercial Code-Revised Article 8. Investment Securities
5. Short Title and General Matters
6. Acquisition of security or financial asset or interest therein

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 75-8-301; or
2. The person acquires a security entitlement to the security pursuant to Section 75-8-501.

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.

A person who acquires a security entitlement to a security or other financial asset has the rights specified in Part 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 75-8-503.

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).

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