Acquisition of security or financial asset or interest therein.

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(a) The person is a purchaser to whom a security is delivered pursuant to ORS 78.3010; or

(b) The person acquires a security entitlement to the security pursuant to ORS 78.5010.

(2) 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.

(3) A person who acquires a security entitlement to a security or other financial asset has the rights specified in ORS 78.5010 to 78.5110, but is a purchaser of any security, security entitlement or other financial asset held by the securities intermediary only to the extent provided in ORS 78.5030.

(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, 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 (1) or (2) of this section. [1961 c.726 §78.1040; 1985 c.676 §78.1040; 1995 c.328 §4]

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