Ucc 8-501

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 8-501 for value and without notice of the adverse claim. Please Subscribe, like and share. 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 8--501(b)(2) or (3), that person is the entitlement holder. (8) "Entitlement order" means a notification communicated to a securities intermediary directing transfer or redemption of a financial asset to which the entitlement holder has a security entitlement. (9) "Financial asset", except as otherwise provided in … Sep 11, 2020 Section 8--502. Assertion of Adverse Claim against Entitlement Holder.

27.11.2020 Ucc 8-501

“Securities intermediary” Uniform Commercial Code - UCC § 9-102. Definitions And Index of Definitions on Westlaw. FindLaw Codes are provided courtesy of Thomson Reuters Westlaw, the industry-leading online legal research system. Section 8--101. Short Title.

U.C.C. § 8-501(b) (account holder, as against financial intermediary, has right to have intermediary take action so that account holder has

Securities Account; Acquisition of Security Entitlement from Securities Intermediary. Section 8--501.

Section 8-501(b) of the UCC provides: Except as otherwise provided in subsections (d) and (e), a person acquires a security entitlement if a securities intermediary: (1) indicates by book entry that a financial asset has been credited to the person’s securities account;

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 communicated to a securities intermediary directing transfer or redemption of a financial asset to which the entitlement holder has a security entitlement. 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 8-501 for value and without notice of the adverse claim.

8 A security entitlement constitutes only a very limited and unique interest in the intermediary’s property interests “the incidents of [which] are established by the rules of Article 8, not by common law property concepts.” UCC §8-503, cmt. 2. New York Uniform Commercial Code - UCC This is FindLaw's hosted version of New York Uniform Commercial Code. Use this page to navigate to all sections within Uniform Commercial Code.

Securities Account; Acquisition of Security Entitlement from Securities Intermediary. (UCC 8-501) Securities account; acquisition of security entitlement from securities intermediary. 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 transaction for purposes of any other law, regulation, or rule. Uniform Commercial Code § 3-501. PRESENTMENT.

Share. Facebook · Twitter · Email · Section 8-501 · Securities Account; Acquisition of Security 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 Standards Body: e. UCC: 2002 Official Text and Comments,. Sections 8–501 through 8–511.

When one receives a presentment of a claim from a debt collector, one should accept it and return it with a counterclaim. A notice of claim is due in ten days and the counterclaim is due in 30 days. 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).

5. Notices.All notices, demands or other communications to be given or delivered under or by reason of the provisions of this Agreement will be in writing and will be deemed to have been given when delivered personally, mailed by certified or registered mail, return receipt 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 (a) Delivery of a certificated security to a purchaser occurs when: (1) the purchaser acquires possession of the security certificate; (2) another person, other than a securities intermediary, either acquires possession of the security certificate on behalf of the purchaser or, having previously acquired possession of the certificate, acknowledges that it holds for the purchaser; or Section 8-501(b)(2) or (3), that person is the entitlement holder. (8) "Entitlement order" means a notification communicated to a securities intermediary directing transfer or redemption of a financial asset to which the entitlement holder has a security entitlement.

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(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

§ 8-501(a) provides: "'Securities account' means an account to which a financial asset is or may be credited in accordance with an Apr 1, 2002 U.C.C. § 8-501(a) defines a securities account as "an account to which a financial asset is or may be credited in accordance with an agreement Oct 13, 2017 § 8-501(a)) at a securities intermediary (U.C.C. § 8-102(a)(14)).