# Tenn. Code Ann. § 47-8-104: Acquisition of security or financial asset or interest therein

> Tennessee · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_TN_T47_C8_S47-8-104

## Section

- **Citation:** Tenn. Code Ann. § 47-8-104
- **Heading:** Acquisition of security or financial asset or interest therein
- **Jurisdiction:** Tennessee
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** TN Code / Title 47 / Chapter 8 / Section 47-8-104

## Text

(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.

## Nearby sections

- [Tenn. Code Ann. § 47-8-101 Short title](https://www.frixlaw.com/law-library/statutes/STATE_TN_T47_C8_S47-8-101.md)
- [Tenn. Code Ann. § 47-8-102 Definitions](https://www.frixlaw.com/law-library/statutes/STATE_TN_T47_C8_S47-8-102.md)
- [Tenn. Code Ann. § 47-8-103 Rules for determining whether certain obligations and interests are securities or financial assets](https://www.frixlaw.com/law-library/statutes/STATE_TN_T47_C8_S47-8-103.md)
- [Tenn. Code Ann. § 47-8-104 Acquisition of security or financial asset or interest therein](https://www.frixlaw.com/law-library/statutes/STATE_TN_T47_C8_S47-8-104.md)
- [Tenn. Code Ann. § 47-8-105 Notice of adverse claim](https://www.frixlaw.com/law-library/statutes/STATE_TN_T47_C8_S47-8-105.md)
- [Tenn. Code Ann. § 47-8-106 Control](https://www.frixlaw.com/law-library/statutes/STATE_TN_T47_C8_S47-8-106.md)
- [Tenn. Code Ann. § 47-8-107 Whether endorsement, instruction, or entitlement order is effective](https://www.frixlaw.com/law-library/statutes/STATE_TN_T47_C8_S47-8-107.md)
- [Tenn. Code Ann. § 47-8-108 Warranties in direct holding](https://www.frixlaw.com/law-library/statutes/STATE_TN_T47_C8_S47-8-108.md)
- [Tenn. Code Ann. § 47-8-109 Warranties in indirect holding](https://www.frixlaw.com/law-library/statutes/STATE_TN_T47_C8_S47-8-109.md)
- [Tenn. Code Ann. § 47-8-110 Applicability - Choice of law](https://www.frixlaw.com/law-library/statutes/STATE_TN_T47_C8_S47-8-110.md)
- [Tenn. Code Ann. § 47-8-111 Clearing corporation rules](https://www.frixlaw.com/law-library/statutes/STATE_TN_T47_C8_S47-8-111.md)
- [Tenn. Code Ann. § 47-8-112 Creditor's legal process](https://www.frixlaw.com/law-library/statutes/STATE_TN_T47_C8_S47-8-112.md)
- [Tenn. Code Ann. § 47-8-113 Statute of frauds inapplicable](https://www.frixlaw.com/law-library/statutes/STATE_TN_T47_C8_S47-8-113.md)
- [Tenn. Code Ann. § 47-8-114 Evidentiary rules concerning certificated securities](https://www.frixlaw.com/law-library/statutes/STATE_TN_T47_C8_S47-8-114.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_TN_T47_C8_S47-8-104. Check the current official text before relying on it. Not legal advice.