1. A person acquires a security or an interest therein, under this Article, if: a. the person isa purchaser to whom a security is delivered pursuant to section 554.8301; or b. the person acquires a security entitlement to the security pursuant to section 554.8501. 2. A person acquires a financial asset, other than a security, or an interest therein, under this Article, ifthe person acquires a security entitlement to the financial asset. 3. 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 section 554.8503. 4. Unless the context shows thata different meaning isintended, 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 1 or 2.
‹ Prev All Iowa sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.