{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.8A-109.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.8A-109.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.8A-109.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.8A-109.html"}],"law_id":78166,"edition_id":1,"section_id":78166,"structure_id":13565,"section_number":"8.8A-109","catch_line":"Warranties in indirect holding","history":"1996, c. 216.","full_text":"a\n\nA person who originates an entitlement order to a securities intermediary warrants to the securities intermediary that:1\n\nthe entitlement order is made by an appropriate person, or if the entitlement order is by an agent, the agent has actual authority to act on behalf of the appropriate person; and2\n\nthere is no adverse claim to the security entitlement.b\n\nA person who delivers a security certificate to a securities intermediary for credit to a securities account or originates an instruction with respect to an uncertificated security directing that the uncertificated security be credited to a securities account makes to the securities intermediary the warranties specified in § 8.8A-108 (a) or (b).c\n\nIf a securities intermediary delivers a security certificate to its entitlement holder or causes its entitlement holder to be registered as the owner of an uncertificated security, the securities intermediary makes to the entitlement holder the warranties specified in § 8.8A-108 (a) or (b).","order_by":null,"text":{"0":{"id":280196,"text":"A person who originates an entitlement order to a securities intermediary warrants to the securities intermediary that:","type":"section","prefixes":["a"],"prefix":"a","entire_prefix":"a","prefix_anchor":"a","level":1,"next_prefix":"a1"},"1":{"id":280197,"text":"the entitlement order is made by an appropriate person, or if the entitlement order is by an agent, the agent has actual authority to act on behalf of the appropriate person; and","type":"section","prefixes":["a","1"],"prefix":"1","entire_prefix":"a1","prefix_anchor":"a1","level":2,"prior_prefix":"a","next_prefix":"a2"},"2":{"id":280198,"text":"there is no adverse claim to the security entitlement.","type":"section","prefixes":["a","2"],"prefix":"2","entire_prefix":"a2","prefix_anchor":"a2","level":2,"prior_prefix":"a1","next_prefix":"b"},"3":{"id":280199,"text":"A person who delivers a security certificate to a securities intermediary for credit to a securities account or originates an instruction with respect to an uncertificated security directing that the uncertificated security be credited to a securities account makes to the securities intermediary the warranties specified in § 8.8A-108 (a) or (b).","type":"section","prefixes":["b"],"prefix":"b","entire_prefix":"b","prefix_anchor":"b","level":1,"prior_prefix":"a2","next_prefix":"c"},"4":{"id":280200,"text":"If a securities intermediary delivers a security certificate to its entitlement holder or causes its entitlement holder to be registered as the owner of an uncertificated security, the securities intermediary makes to the entitlement holder the warranties specified in § 8.8A-108 (a) or (b).","type":"section","prefixes":["c"],"prefix":"c","entire_prefix":"c","prefix_anchor":"c","level":1,"prior_prefix":"b"}},"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":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},"next_section":{"id":85684,"structure_id":13565,"section_number":"8.8A-110","catch_line":"Applicability; 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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":80523,"section_number":"8.8A-108","catch_line":"Warranties in direct holding","order_by":null,"url":"\/8.8A-108\/"}],"permalink":{"id":283647,"object_type":"law","relational_id":78166,"identifier":"8.8A-109","token":"8.8A\/1\/8.8A-109","url":"\/8.8A-109\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.8A-109\/","token":"8.8A\/1\/8.8A-109","dublin_core":{"Title":"Warranties in indirect holding","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.8A-109","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

a.<\/span> A person who originates an entitlement order<\/span> to a securities intermediary warrants to the securities intermediary that: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> the entitlement order<\/span> is made by an appropriate person, or if the entitlement order<\/span> is by an agent, the agent has actual authority to act on behalf of the appropriate person; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> there is no adverse claim to the security entitlement. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

b.<\/span> A person who delivers a security certificate to a securities intermediary for credit to a securities account or originates an instruction with respect to an uncertificated security directing that the uncertificated security be credited to a securities account makes to the securities intermediary the warranties specified in § 8.8A-108<\/a> (a) or (b). <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

c.<\/span> If a securities intermediary delivers a security certificate to its entitlement holder or causes its entitlement holder to be registered as the owner of an uncertificated security, the securities intermediary makes to the entitlement holder the warranties specified in § 8.8A-108<\/a> (a) or (b). <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nWARRANTIES IN INDIRECT HOLDING (\u00a7 8.8A-109)\n\na. A person who originates an entitlement order to a securities intermediary\nwarrants to the securities intermediary that:\n\n 1. the entitlement order is made by an appropriate person, or if the\n entitlement order is by an agent, the agent has actual authority to act on\n behalf of the appropriate person; and\n\n 2. there is no adverse claim to the security entitlement.\n\nb. A person who delivers a security certificate to a securities intermediary for\ncredit to a securities account or originates an instruction with respect to an\nuncertificated security directing that the uncertificated security be credited\nto a securities account makes to the securities intermediary the warranties\nspecified in § 8.8A-108 (a) or (b).\n\nc. If a securities intermediary delivers a security certificate to its\nentitlement holder or causes its entitlement holder to be registered as the\nowner of an uncertificated security, the securities intermediary makes to the\nentitlement holder the warranties specified in § 8.8A-108 (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}}