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Commercial Code - COM - COM § 8307
Commercial Code - COM - COM § 8307
Unless otherwise agreed, the transferor of a security on due demand shall supply the purchaser with proof of authority to transfer or with any other requisite necessary to obtain registration of the transfer of the security, but if the transfer is not for value, a transferor need
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Commercial Code - COM - COM § 8401
Commercial Code - COM - COM § 8401
(a) If a certificated security in registered form is presented to an issuer with a request to register transfer or an instruction is presented to an issuer with a request to register transfer of an uncertificated security, the issuer shall register the transfer as requested if th
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Commercial Code - COM - COM § 8402
Commercial Code - COM - COM § 8402
(a) An issuer may require the following assurance that each necessary endorsement or each instruction is genuine and authorized: (1) In all cases, a guaranty of the signature of the person making an endorsement or originating an instruction including, in the case of an instructio
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Commercial Code - COM - COM § 8403
Commercial Code - COM - COM § 8403
(a) A person who is an appropriate person to make an endorsement or originate an instruction may demand that the issuer not register transfer of a security by communicating to the issuer a notification that identifies the registered owner and the issue of which the security is a
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Commercial Code - COM - COM § 8404
Commercial Code - COM - COM § 8404
(a) Except as otherwise provided in Section 8406, an issuer is liable for wrongful registration of transfer if the issuer has registered a transfer of a security to a person not entitled to it, and the transfer was registered in any of the following circumstances: (1) Pursuant to
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Commercial Code - COM - COM § 8405
Commercial Code - COM - COM § 8405
(a) If an owner of a certificated security, whether in registered or bearer form, claims that the certificate has been lost, destroyed, or wrongfully taken, the issuer shall issue a new certificate if the owner does all of the following: (1) So requests before the issuer has noti
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Commercial Code - COM - COM § 8406
Commercial Code - COM - COM § 8406
If a security certificate has been lost, apparently destroyed, or wrongfully taken, and the owner fails to notify the issuer of that fact within a reasonable time after the owner has notice of it and the issuer registers a transfer of the security before receiving notification, t
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Commercial Code - COM - COM § 8407
Commercial Code - COM - COM § 8407
A person acting as authenticating trustee, transfer agent, registrar, or other agent for an issuer in the registration of a transfer of its securities, in the issue of new security certificates or uncertificated securities, or in the cancellation of surrendered security certifica
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Commercial Code - COM - COM § 8501
Commercial Code - COM - COM § 8501
(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 entitled to exercise the rights that comp
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Commercial Code - COM - COM § 8502
Commercial Code - COM - COM § 8502
An action based on an adverse claim to a financial asset, whether framed in conversion, replevin, constructive trust, equitable lien, or other theory, may not be asserted against a person who acquires a security entitlement under Section 8501 for value and without notice of the a
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Commercial Code - COM - COM § 8503
Commercial Code - COM - COM § 8503
(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 holde
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Commercial Code - COM - COM § 8504
Commercial Code - COM - COM § 8504
(a) A securities intermediary shall promptly obtain and thereafter maintain a financial asset in a quantity corresponding to the aggregate of all security entitlements it has established in favor of its entitlement holders with respect to that financial asset. The securities inte
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Commercial Code - COM - COM § 8505
Commercial Code - COM - COM § 8505
(a) A securities intermediary shall take action to obtain a payment or distribution made by the issuer of a financial asset. A securities intermediary satisfies the duty if it does either of the following: (1) The securities intermediary acts with respect to the duty as agreed up
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Commercial Code - COM - COM § 8506
Commercial Code - COM - COM § 8506
A securities intermediary shall exercise rights with respect to a financial asset if directed to do so by an entitlement holder. A securities intermediary satisfies the duty if it does either of the following: (1) The securities intermediary acts with respect to the duty as agree
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Commercial Code - COM - COM § 8507
Commercial Code - COM - COM § 8507
(a) A securities intermediary shall comply with an entitlement order if the entitlement order is originated by the appropriate person, the securities intermediary has had reasonable opportunity to assure itself that the entitlement order is genuine and authorized, and the securit
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Commercial Code - COM - COM § 8508
Commercial Code - COM - COM § 8508
A securities intermediary shall act at the direction of an entitlement holder to change a security entitlement into another available form of holding for which the entitlement holder is eligible, or to cause the financial asset to be transferred to a securities account of the ent
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Commercial Code - COM - COM § 8509
Commercial Code - COM - COM § 8509
(a) If the substance of a duty imposed upon a securities intermediary by Sections 8504 to 8508, inclusive, is the subject of a federal statute, regulation, or rule, compliance with that statute, regulation, or rule satisfies the duty. (b) To the extent that specific standards for
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Commercial Code - COM - COM § 8510
Commercial Code - COM - COM § 8510
(a) In a case not covered by the priority rules in Division 9 (commencing with Section 9101) or the rules stated in subdivision (c), an action based on an adverse claim to a financial asset or security entitlement, whether framed in conversion, replevin, constructive trust, equit
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Commercial Code - COM - COM § 8511
Commercial Code - COM - COM § 8511
(a) Except as otherwise provided in subdivisions (b) and (c), if a securities intermediary does not have sufficient interests in a particular financial asset to satisfy both its obligations to entitlement holders who have security entitlements to that financial asset and its obli
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Commercial Code - COM - COM § 8601
Commercial Code - COM - COM § 8601
This division becomes operative January 1, 1997.
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Commercial Code - COM - COM § 8603
Commercial Code - COM - COM § 8603
(a) This division does not affect an action or proceeding commenced before this division becomes operative. (b) If a security interest in a security is perfected at the date this division becomes operative, and the action by which the security interest was perfected would suffice
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Commercial Code - COM - COM § 9101
Commercial Code - COM - COM § 9101
This division may be cited as the Uniform Commercial Code-Secured Transactions.
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Commercial Code - COM - COM § 9102
Commercial Code - COM - COM § 9102
(a) In this division: (1) “Accession” means goods that are physically united with other goods in such a manner that the identity of the original goods is not lost. (2) “Account,” except as used in “account for,” “account statement,” “account to,” “commodity account” in paragraph
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Commercial Code - COM - COM § 9103
Commercial Code - COM - COM § 9103
(a) In this section: (1) “Purchase money collateral” means goods or software that secures a purchase money obligation incurred with respect to that collateral. (2) “Purchase money obligation” means an obligation of an obligor incurred as all or part of the price of the collateral
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Commercial Code - COM - COM § 9104
Commercial Code - COM - COM § 9104
(a) A secured party has control of a deposit account if any of the following conditions is satisfied: (1) The secured party is the bank with which the deposit account is maintained. (2) The debtor, secured party, and bank have agreed in a signed record that the bank will comply w