§ 11-8-113. Statute of Frauds Inapplicable
A contract or modification of a contract for the sale or purchase of a security is enforceable whether or not there is a writing signed or record authenticated by a party against whom enforcement is sought, even if the contract or modification is not capable of performance within one year of its making. History. Code […]
§ 11-8-114. Evidentiary Rules Concerning Certificated Securities
The following rules apply in an action on a certificated security against the issuer: Unless specifically denied in the pleadings, each signature on a security certificate or in a necessary indorsement is admitted. If the effectiveness of a signature is put in issue, the burden of establishing effectiveness is on the party claiming under the […]
§ 11-8-115. Securities Intermediary and Others Not Liable to Adverse Claimant
A securities intermediary that has transferred a financial asset pursuant to an effective entitlement order, or a broker or other agent or bailee that has dealt with a financial asset at the direction of its customer or principal, is not liable to a person having an adverse claim to the financial asset, unless the securities […]
§ 11-8-116. 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 security entitlement for value if […]
§ 11-8-101. Short Title
This article shall be known and may be cited as the “Uniform Commercial Code — Investment Securities.” History. Code 1981, § 11-8-101 , enacted by Ga. L. 1998, p. 1323, § 1; Ga. L. 1999, p. 81, § 11.
§ 11-8-102. Definitions
In this article: “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. “Bearer form,” as applied to a certificated security, means a form in […]