# ORS § 78.1040: 78.1040 Acquisition of security or financial asset or interest therein

> Oregon · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1040

## Section

- **Citation:** ORS § 78.1040
- **Heading:** 78.1040 Acquisition of security or financial asset or interest therein
- **Jurisdiction:** Oregon
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** OR Code / Title 8 / Chapter 78 / Section 78.1040

## Text

(1) A person acquires a security or an interest therein under this chapter if:

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

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

(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 (Securities account) to 78.5110 (Priority among security interests and entitlement holders) , 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 (Property interest of entitlement holder in financial asset held by securities intermediary) .

(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 (Acquisition of security or financial asset or interest therein) ; 1985 c.676 § 78.1040 (Acquisition of security or financial asset or interest therein) ; 1995 c.328 §4]

Source: Section 78.1040 — Acquisition of security or financial asset or interest therein , https://www.­oregonlegislature.­gov/bills_laws/ors/ors078.­html (accessed May 26, 2025).

## Nearby sections

- [ORS § 78.1010 78.1010 Short title](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1010.md)
- [ORS § 78.1020 78.1020 Definitions and index of definitions](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1020.md)
- [ORS § 78.1030 78.1030 Rules for determining whether certain obligations and interests are securities or financial assets](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1030.md)
- [ORS § 78.1040 78.1040 Acquisition of security or financial asset or interest therein](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1040.md)
- [ORS § 78.1050 78.1050 Notice of adverse claim](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1050.md)
- [ORS § 78.1060 78.1060 Control](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1060.md)
- [ORS § 78.1070 78.1070 Whether indorsement, instruction or entitlement order is effective](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1070.md)
- [ORS § 78.1080 78.1080 Warranties in direct holding](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1080.md)
- [ORS § 78.1090 78.1090 Warranties in indirect holding](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1090.md)
- [ORS § 78.1100 78.1100 Applicability](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1100.md)
- [ORS § 78.1110 78.1110 Clearing corporation rules](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1110.md)
- [ORS § 78.1120 78.1120 Creditor’s legal process](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1120.md)
- [ORS § 78.1130 78.1130 Statute of frauds inapplicable](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1130.md)
- [ORS § 78.1140 78.1140 Evidentiary rules concerning certificated securities](https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1140.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_OR_T8_C78_S78.1040. Check the current official text before relying on it. Not legal advice.