677.603 – Conflicting claims; interpleader.
677.603 Conflicting claims; interpleader.—If more than one person claims title to or possession of the goods, the bailee is excused from delivery until the bailee has a reasonable time to ascertain the validity of the adverse claims or to commence an action for interpleader. The bailee may assert an interpleader either in defending an action for […]
678.1161 – Securities intermediary as purchaser for value.
678.1161 Securities intermediary as purchaser for value.—A securities intermediary that receives a financial asset and establishes a security entitlement to the financial asset in favor of an entitlement holder is a purchaser for value of the financial asset. A securities intermediary that acquires a security entitlement to a financial asset from another securities intermediary acquires the […]
678.1011 – Short title.
678.1011 Short title.—Chapter 678 may be cited as “Uniform Commercial Code—Investment Securities.” History.—s. 1, ch. 98-11.
678.1021 – Definitions.
678.1021 Definitions.— (1) In this chapter: (a) “Adverse claim” means a claim that a claimant has a property interest in a financial asset and that it is a violation of the rights of the claimant for another person to hold, transfer, or deal with the financial asset. (b) “Bearer form,” as applied to a certificated security, means a form […]
678.1031 – Rules for determining whether certain obligations and interests are securities or financial assets.
678.1031 Rules for determining whether certain obligations and interests are securities or financial assets.— (1) A share or similar equity interest issued by a corporation, business trust, joint stock company, or similar entity is a security. (2) An “investment company security” is a security. “Investment company security” means a share or similar equity interest issued by an entity […]
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 […]