678.1041 – Acquisition of security or financial asset or interest therein.
678.1041 Acquisition of security or financial asset or interest therein.— (1) A person acquires a security or an interest therein, under this chapter, if: (a) The person is a purchaser to whom a security is delivered pursuant to s. 678.3011; or (b) The person acquires a security entitlement to the security pursuant to s. 678.5011. (2) A person acquires a […]
678.1051 – Notice of adverse claim.
678.1051 Notice of adverse claim.— (1) A person has notice of an adverse claim if: (a) The person knows of the adverse claim; (b) The person is aware of facts sufficient to indicate that there is a significant probability that the adverse claim exists and deliberately avoids information that would establish the existence of the adverse claim; or (c) The […]
678.1061 – Control.
678.1061 Control.— (1) A purchaser has “control” of a certificated security in bearer form if the certificated security is delivered to the purchaser. (2) A purchaser has “control” of a certificated security in registered form if the certificated security is delivered to the purchaser, and: (a) The certificate is indorsed to the purchaser or in blank by an effective […]
678.1071 – Whether indorsement, instruction, or entitlement order is effective.
678.1071 Whether indorsement, instruction, or entitlement order is effective.— (1) “Appropriate person” means: (a) With respect to an indorsement, the person specified by a security certificate or by an effective special indorsement to be entitled to the security; (b) With respect to an instruction, the registered owner of an uncertificated security; (c) With respect to an entitlement order, the entitlement […]
678.1081 – Warranties in direct holding.
678.1081 Warranties in direct holding.— (1) A person who transfers a certificated security to a purchaser for value warrants to the purchaser, and an indorser, if the transfer is by indorsement, warrants to any subsequent purchaser, that: (a) The certificate is genuine and has not been materially altered. (b) The transferor or indorser does not know of any fact […]
678.1091 – Warranties in indirect holding.
678.1091 Warranties in indirect holding.— (1) A person who originates an entitlement order to a securities intermediary warrants to the securities intermediary that: (a) 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. (b) There is no […]
678.1101 – Applicability; choice of law.
678.1101 Applicability; choice of law.— (1) The local law of the issuer’s jurisdiction, as specified in subsection (4), governs: (a) The validity of a security. (b) The rights and duties of the issuer with respect to registration of transfer. (c) The effectiveness of registration of transfer by the issuer. (d) Whether the issuer owes any duties to an adverse claimant to […]