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§ 8 104 — 8 104 — U.S. Virgin Islands Law | CourtGPT
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U.S. Virgin Islands Legal Code

8 104

U.S. Virgin Islands § 8 104 — U.S. Virgin Islands law

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(a) A person acquires a security or an interest therein, under this Article, if:\n(1) the person is a purchaser to whom a security is delivered pursuant to § 8–301; or\n(2) the person acquires a security entitlement to the security pursuant to § 8–501.\n(b) 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.\n(c) 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 other financial asset held by the securities intermediary only to the extent provided in § 8–503.\n(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).