N.Y. Uniform Commercial Code Law § 8-104: Acquisition of Security or Financial Asset or Interest Therein

Section 8--104. Acquisition of Security or Financial Asset or Interest

Therein.

(a) A person acquires a security or an interest therein, under this

Article, if:

(1) the person is a purchaser to whom a security is delivered

pursuant to Section 8--301; or

(2) the person acquires a security entitlement to the security

pursuant to Section 8--501.

(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.

(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

Section 8--503.

(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).