{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.8A-104.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.8A-104.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.8A-104.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.8A-104.html"}],"law_id":62182,"edition_id":1,"section_id":62182,"structure_id":13565,"section_number":"8.8A-104","catch_line":"Acquisition of security or financial asset or interest therein","history":"1996, c. 216.","full_text":"a\n\nA person acquires a security or an interest therein, under this title, if:1\n\nthe person is a purchaser to whom a security is delivered pursuant to § 8.8A-301; or2\n\nthe person acquires a security entitlement to the security pursuant to § 8.8A-501.b\n\nA person acquires a financial asset, other than a security, or an interest therein, under this title, if the person acquires a security entitlement to the financial asset.c\n\nA 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 § 8.8A-503.d\n\nUnless 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).","order_by":null,"text":{"0":{"id":226813,"text":"A person acquires a security or an interest therein, under this title, if:","type":"section","prefixes":["a"],"prefix":"a","entire_prefix":"a","prefix_anchor":"a","level":1,"next_prefix":"a1"},"1":{"id":226814,"text":"the person is a purchaser to whom a security is delivered pursuant to § 8.8A-301; or","type":"section","prefixes":["a","1"],"prefix":"1","entire_prefix":"a1","prefix_anchor":"a1","level":2,"prior_prefix":"a","next_prefix":"a2"},"2":{"id":226815,"text":"the person acquires a security entitlement to the security pursuant to § 8.8A-501.","type":"section","prefixes":["a","2"],"prefix":"2","entire_prefix":"a2","prefix_anchor":"a2","level":2,"prior_prefix":"a1","next_prefix":"b"},"3":{"id":226816,"text":"A person acquires a financial asset, other than a security, or an interest therein, under this title, if the person acquires a security entitlement to the financial asset.","type":"section","prefixes":["b"],"prefix":"b","entire_prefix":"b","prefix_anchor":"b","level":1,"prior_prefix":"a2","next_prefix":"c"},"4":{"id":226817,"text":"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 § 8.8A-503.","type":"section","prefixes":["c"],"prefix":"c","entire_prefix":"c","prefix_anchor":"c","level":1,"prior_prefix":"b","next_prefix":"d"},"5":{"id":226818,"text":"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).","type":"section","prefixes":["d"],"prefix":"d","entire_prefix":"d","prefix_anchor":"d","level":1,"prior_prefix":"c"}},"ancestry":[{"id":13565,"edition_id":1,"name":"Short Title and General Matters","identifier":"1","label":"part","depth":2,"order_by":1,"parent_id":13421,"metadata":{},"date_created":"2026-06-26 03:45:16","date_modified":"2026-06-26 03:45:16","permalink":{"id":283613,"object_type":"structure","relational_id":13565,"identifier":"1","token":"8.8A\/1","url":"\/8.8A\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13421,"edition_id":1,"name":"Commercial Code \u2014 Investment Securities","identifier":"8.8A","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:44:52","date_modified":"2026-06-26 03:44:52","permalink":{"id":283611,"object_type":"structure","relational_id":13421,"identifier":"8.8A","token":"8.8A","url":"\/8.8A\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":75292,"structure_id":13565,"section_number":"8.8A-101","catch_line":"Short title","url":"\/8.8A-101\/","token":"8.8A\/1\/8.8A-101","metadata":false},{"id":69812,"structure_id":13565,"section_number":"8.8A-102","catch_line":"Definitions","url":"\/8.8A-102\/","token":"8.8A\/1\/8.8A-102","metadata":false},{"id":67422,"structure_id":13565,"section_number":"8.8A-103","catch_line":"Rules for determining whether certain obligations and interests are securities or financial assets","url":"\/8.8A-103\/","token":"8.8A\/1\/8.8A-103","metadata":false},{"id":62182,"structure_id":13565,"section_number":"8.8A-104","catch_line":"Acquisition of security or financial asset or interest therein","url":"\/8.8A-104\/","token":"8.8A\/1\/8.8A-104","metadata":false},{"id":86946,"structure_id":13565,"section_number":"8.8A-105","catch_line":"Notice of adverse claim","url":"\/8.8A-105\/","token":"8.8A\/1\/8.8A-105","metadata":false},{"id":84402,"structure_id":13565,"section_number":"8.8A-106","catch_line":"Control","url":"\/8.8A-106\/","token":"8.8A\/1\/8.8A-106","metadata":false},{"id":82156,"structure_id":13565,"section_number":"8.8A-107","catch_line":"Whether endorsement, instruction or entitlement order is effective","url":"\/8.8A-107\/","token":"8.8A\/1\/8.8A-107","metadata":false},{"id":80523,"structure_id":13565,"section_number":"8.8A-108","catch_line":"Warranties in direct holding","url":"\/8.8A-108\/","token":"8.8A\/1\/8.8A-108","metadata":false},{"id":78166,"structure_id":13565,"section_number":"8.8A-109","catch_line":"Warranties in indirect holding","url":"\/8.8A-109\/","token":"8.8A\/1\/8.8A-109","metadata":false},{"id":85684,"structure_id":13565,"section_number":"8.8A-110","catch_line":"Applicability; choice of law","url":"\/8.8A-110\/","token":"8.8A\/1\/8.8A-110","metadata":false},{"id":61236,"structure_id":13565,"section_number":"8.8A-111","catch_line":"Clearing corporation rules","url":"\/8.8A-111\/","token":"8.8A\/1\/8.8A-111","metadata":false},{"id":60657,"structure_id":13565,"section_number":"8.8A-112","catch_line":"Creditor's legal process","url":"\/8.8A-112\/","token":"8.8A\/1\/8.8A-112","metadata":false},{"id":54527,"structure_id":13565,"section_number":"8.8A-113","catch_line":"Statute of frauds inapplicable","url":"\/8.8A-113\/","token":"8.8A\/1\/8.8A-113","metadata":false},{"id":59666,"structure_id":13565,"section_number":"8.8A-114","catch_line":"Evidentiary rules concerning certificated securities","url":"\/8.8A-114\/","token":"8.8A\/1\/8.8A-114","metadata":false},{"id":86183,"structure_id":13565,"section_number":"8.8A-115","catch_line":"Securities intermediary and others not liable to adverse claimant","url":"\/8.8A-115\/","token":"8.8A\/1\/8.8A-115","metadata":false},{"id":60165,"structure_id":13565,"section_number":"8.8A-116","catch_line":"Securities intermediary as purchaser for value","url":"\/8.8A-116\/","token":"8.8A\/1\/8.8A-116","metadata":false}],"previous_section":{"id":67422,"structure_id":13565,"section_number":"8.8A-103","catch_line":"Rules for determining whether certain obligations and interests are securities or financial assets","url":"\/8.8A-103\/","token":"8.8A\/1\/8.8A-103","metadata":false},"next_section":{"id":86946,"structure_id":13565,"section_number":"8.8A-105","catch_line":"Notice of adverse claim","url":"\/8.8A-105\/","token":"8.8A\/1\/8.8A-105","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.8A-104\/","history_text":"

This law was first created in 1996. The record of its establishment is cataloged in chapter 216<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":false,"refers_to":[{"id":58567,"section_number":"8.8A-301","catch_line":"Delivery","order_by":null,"url":"\/8.8A-301\/"}],"permalink":{"id":283627,"object_type":"law","relational_id":62182,"identifier":"8.8A-104","token":"8.8A\/1\/8.8A-104","url":"\/8.8A-104\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.8A-104\/","token":"8.8A\/1\/8.8A-104","dublin_core":{"Title":"Acquisition of security or financial asset or interest therein","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.8A-104","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

a.<\/span> A person acquires a security or an interest therein, under this title, if: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> the person is a purchaser to whom a security is delivered pursuant to § 8.8A-301<\/a>; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> the person acquires a security entitlement to the security pursuant to § 8.8A-501<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

b.<\/span> A person acquires a financial asset, other than a security, or an interest therein, under this title, if the person acquires a security entitlement to the financial asset. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

c.<\/span> 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 § 8.8A-503<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

d.<\/span> Unless the context shows that a different meaning is intended, a person who is required by other law<\/span>, regulation, rule, or agreement to transfer, deliver, present, surrender, exchange, or otherwise put in the possession<\/span> 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). <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nACQUISITION OF SECURITY OR FINANCIAL ASSET OR INTEREST THEREIN (\u00a7 8.8A-104)\n\na. A person acquires a security or an interest therein, under this title, if:\n\n 1. the person is a purchaser to whom a security is delivered pursuant to\n § 8.8A-301; or\n\n 2. the person acquires a security entitlement to the security pursuant to\n § 8.8A-501.\n\nb. A person acquires a financial asset, other than a security, or an interest\ntherein, under this title, if the person acquires a security entitlement to the\nfinancial asset.\n\nc. A person who acquires a security entitlement to a security or other financial\nasset has the rights specified in Part 5, but is a purchaser of any security,\nsecurity entitlement, or other financial asset held by the securities\nintermediary only to the extent provided in § 8.8A-503.\n\nd. Unless the context shows that a different meaning is intended, a person who\nis required by other law, regulation, rule, or agreement to transfer, deliver,\npresent, surrender, exchange, or otherwise put in the possession of another\nperson a security or financial asset satisfies that requirement by causing the\nother person to acquire an interest in the security or financial asset pursuant\nto subsection (a) or (b).\n\nHISTORY: 1996, c. 216.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}