§ 6A-8-301 - Delivery.
SECTION 6A-8-301
§ 6A-8-301 Delivery. – (a) Delivery of a certificated security to a purchaser occurs when:
(1) the purchaser acquires possession of the securitycertificate;
(2) another person, other than a securities intermediary,either acquires possession of the security certificate on behalf of thepurchaser or, having previously acquired possession of the certificate,acknowledges that it holds for the purchaser; or
(3) a securities intermediary acting on behalf of thepurchaser acquires possession of the security certificate, only if thecertificate is in registered form and is (i) registered in the name of thepurchaser, (ii) payable to the order of the purchaser, or (iii) speciallyindorsed to the purchaser by an effective indorsement and has not been indorsedto the securities intermediary or in blank.
(b) Delivery of an uncertificated security to a purchaseroccurs when:
(1) the issuer registers the purchaser as the registeredowner, upon original issue or registration of transfer; or
(2) another person, other than a securities intermediary,either becomes the registered owner of the uncertificated security on behalf ofthe purchaser or, having previously become the registered owner, acknowledgesthat it holds for the purchaser.