§ 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 […]
§ 11-7-603. 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 nondelivery of […]
§ 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.
§ 11-8-201. Issuer
With respect to an obligation on or a defense to a security, an “issuer” includes a person that: Places or authorizes the placing of its name on a security certificate, other than as authenticating trustee, registrar, transfer agent, or the like, to evidence a share, participation, or other interest in its property or in an […]
§ 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 […]
§ 11-8-202. Issuer’s Responsibility and Defenses; Notice of Defect or Defense
Even against a purchaser for value and without notice, the terms of a certificated security include terms stated on the certificate and terms made part of the security by reference on the certificate to another instrument, indenture, or document or to a constitution, statute, ordinance, rule, regulation, order, or the like, to the extent the […]
§ 11-8-103. Rules for Determining Whether Certain Obligations and Interests Are Securities or Financial Assets
A share or similar equity interest issued by a corporation, business trust, joint stock company, or similar entity is a security. An “investment company security” is a security. “Investment company security” means a share or similar equity interest issued by an entity that is registered as an investment company under the federal investment company laws, […]
§ 11-8-203. Staleness as Notice of Defect or Defense
After an act or event, other than a call that has been revoked, creating a right to immediate performance of the principal obligation represented by a certificated security or setting a date on or after which the security is to be presented or surrendered for redemption or exchange, a purchaser is charged with notice of […]