554.8104 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 section 554.8301; or b. the person acquires a security entitlement to the security pursuant to section 554.8501.2. 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, but is a purchaser of any security, security entitlement, or otherfinancial asset held by the securities intermediary only to the extent provided in section554.8503. 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 thatrequirement by causing the other person to acquire an interest in the security or financialasset pursuant to erwise put in the possession of another person a security or financial asset satisfies thatrequirement by causing the other person to acquire an interest in the security or financialasset pursuant to subsection 1 or 2. [C66, 71, 73, 75, 77, 79, 81, §554.8104]89 Acts, ch 113, §3; 96 Acts, ch 1138, §12, 84; 2017 Acts, ch 54, §67 Sat Dec 23 01:58:08 2023 Iowa Code 2024, Section 554.8104 (26, 0)
Iowa Legal Code