Acquisition of security or financial asset or interest therein
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TN Code › Title 47 › Chapter 8 › Section 47-8-104
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(a) A person acquires a security or an interest therein, under this chapter, if: (1) the person is a purchaser to whom a security is delivered pursuant to § 47-8-301 ; or (2) the person acquires a security entitlement to the security pursuant to § 47-8-501 . (b) 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. (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 § 47-8-503 . (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). Acts 1997, ch. 79, § 1.
(a) A person acquires a security or an interest therein, under this chapter, if: (1) the person is a purchaser to whom a security is delivered pursuant to § 47-8-301 ; or (2) the person acquires a security entitlement to the security pursuant to § 47-8-501 .
(1) the person is a purchaser to whom a security is delivered pursuant to § 47-8-301 ; or
(2) the person acquires a security entitlement to the security pursuant to § 47-8-501 .
(b) 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.
(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 § 47-8-503 .
(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).
Acts 1997, ch. 79, § 1.
This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.