CODE OF VIRGINIA

ACQUISITION OF SECURITY OR FINANCIAL ASSET OR INTEREST THEREIN (§ 8.8A-104)

a. A person acquires a security or an interest therein, under this title, if:

   1. the person is a purchaser to whom a security is delivered pursuant to
   § 8.8A-301; or

   2. the person acquires a security entitlement to the security pursuant to
   § 8.8A-501.

b. 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.

c. 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.

d. 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).

HISTORY: 1996, c. 216.