Ucc 8-501

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(a) To the extent necessary for a securities intermediary to satisfy all security entitlements with respect to a particular financial asset, all interests in that financial asset held by the securities intermediary are held by the securities intermediary for the entitlement holders, are not property of the securities intermediary, and are not subject to claims of creditors of the securities

(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. § 8-501. Securities account; acquisition of security entitlement from securities intermediary. (a) “Securities account” means an account to which a financial asset is or may be credited in accordance with an agreement under which the person maintaining the account undertakes to treat the person for whom the account is maintained as The quoted language is in clause (iii) of UCC § 8-102(a)(9)’s definition of the term “financial asset.” 6 UCC § 8-102(a)(7). 7 UCC § 8-501(b)(1). 8 UCC § 8-102(a)(17).

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(UCC 8-503) Property interest of entitlement holder is financial asset held by securities intermediary. 1308.54. 3 UCC §§ 8-501(a) and 8-102(a)(9). 4 UCC § 8-102(a)(15). 2 1 treated as a financial asset” (emphasis added).5 2 3 Once the securities intermediary has indicated by book entry that a financial asset has 4 been credited to a person’s securities account, the person is referred to as an “entitlement Uniform Commercial Code Part 5 Security Entitlements § 8-501. Securities account; acquisition of security entitlement from securities intermediary.

Oct 26, 2011 · 6 “Security entitlement” is defined in UCC § 8-102(a)(18) and “securities account” is defined in UCC § 8-501. UCC § 8-501(d) provides that if a securities intermediary holds a financial asset for another person, and the financial asset is registered in the name of, payable to the order of, or specially indorsed to the other

(8) "Entitlement order" means a  Part 5 Security Entitlements. Uniform Commercial Code (UCC).

Ucc 8-501

Sections (§§) 8-501 - 8-511 Part 6 Transition Provisions For Revised Article 8 and For the Conforming Amendments to Articles 1, 5, 9

2014 New York Laws UCC - Uniform Commercial Code Article 8 - INVESTMENT SECURITIES Part 4 - (8-401 - 8-602) REGISTRATION 8-501 - Securities Account; Acquisition of Security Entitlement from Securities Intermediary. (UCC 8-501) Securities account; acquisition of security entitlement from securities intermediary. If a person acquires a security entitlement by virtue of Section 8-501(b)(2) or (3), that person is the entitlement holder. (8) "Entitlement order" means a notification communicatedto a securities intermediarydirecting transfer or redemption of a financial assetto which the entitlement holderhas a security entitlement. (a) To the extent necessary for a securities intermediary to satisfy all security entitlements with respect to a particular financial asset, all interests in that financial asset held by the securities intermediary are held by the securities intermediary for the entitlement holders, are not property of the securities intermediary, and are not subject to claims of creditors of the securities Uniform Commercial Code PRESENTMENT.

12 UCC § 8-102(a)(8). 13 UCC § 8-507. 14 UCC § 8-508. 15 UCC § 8-503(b). 16 See generally Official Comment 1 to UCC § 8-503. Article 9 divides collateral into types, which are defined in the Uniform Commercial Code “Securities accounts” are a type of account defined in UCC §8-501(a). UCC §8-502 UCC: 2002 Official Text and Comments, Sections 8 501 through 8 511.

UCC: 2002 Official Text and Comments, Sections 8–501 through 8–511 Author: National Conference of Commissioners on Uniform State Laws Subject: Incorporated into U.S. Law in 17 CFR 270.17f-4(c)(1) Keywords: Public Domain Created Date: 5/18/2012 12:14:18 PM California Commercial Code COM CA COML Section 9602. Read the code on FindLaw Please Subscribe, like and share. Under Section 8-501(a) of the UCC, a “securities account” is defined as “an account to which a financial asset is or may be credited in accordance with an agreement under which the person maintaining the account undertakes to treat the person for whom the account is maintained as entitled to exercise the rights that comprise the Nov 14, 2012 View UCC 8-501 Securities account; acquisition of security entitlement from securities intermediary. View Print Friendly: View UCC 8-502 Assertion of adverse claim against entitlement holder. View Print Friendly: View UCC 8-503 Property interest of entitlement holder in financial asset held by securities intermediary.

Security Entitlements. 490:8-501 Securities account; acquisition of security . Jan 1, 1995 the NCCUSIJALI Drafting Committee to Revise UCC Article 8 - Investment Secu- Section 8-501(b) provides that "a person acquires a security. Apr 5, 2016 8-501(a)) and a “financial asset” is, among other things, a certificated or revised by the 2010 Amendments to UCC Article 9 sponsored by the  Sep 9, 2016 UCC-8-501(a) "Securities account" means an account to which a financial asset is or may be credited in accordance with an agreement under  Jan 29, 2015 The prototypical securities intermediary is a trust company or a brokerage firm. [4] “Securities accounts” are a type of account defined in UCC §8-  Uniform Commercial Code Series § 8-501:01.

Part 1 of the Code of Regulations § 51 the attached document has been duly. t This material refers to Uniform Commercial Code sections by their official text citations. Inc., 514 N.W.2d 584, 589, 23 U.C.C. Rep. Serv.

SECTION 8-501 Securities Account; Acquisition of Security Entitlement from Securities Intermediary SECTION 8-503 Property Interest of Entitlement Holder in Financial Asset held by Securities Intermediary Section 8-502 Assertion of Adverse Claim against Entitlement Holder Uniform Commercial Code (UCC) View UCC 8-501 Securities account; acquisition of security entitlement from securities intermediary. View Print Friendly: View UCC 8-502 Assertion of adverse claim against entitlement holder. View Print Friendly: View UCC 8-503 Property interest of entitlement holder in financial asset held by securities intermediary. View Print Friendly UCC §8-503, cmt. 2. 6 See UCC §8-501(a).

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Securities account Section 8–501 (c) In addition, Article 1 contains general definitions and principles of construction and interpretation applicable throughout this Article. (d) The characterization of a person, business, or transaction for purposes of this Article does not determine the characterization of the person, business, or

1308.52. (UCC 8-502) Assertion of adverse claim against entitlement holder. 1308.53. (UCC 8-503) Property interest of entitlement holder is financial asset held by securities intermediary. 1308.54. Under Section 8-501(a) of the UCC, a “securities account” is defined as “an account to which a financial asset is or may be credited in accordance with an agreement under which the person maintaining the account undertakes to treat the person for whom the account is maintained as entitled to exercise the rights that comprise the If a person acquires a security entitlement by virtue of Section 8.501(b)(2) or (3), that person is the entitlement holder.