Utah Code 70A-8-301. Delivery
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(1) Delivery of a certificated security to a purchaser occurs when:
Terms Used In Utah Code 70A-8-301
- Indorsement: means a signature that alone or accompanied by other words is made on a security certificate in registered form or on a separate document for the purpose of assigning, transferring, or redeeming the security or granting a power to assign, transfer, or redeem it. See Utah Code 70A-8-101
- Person: means :(24)(a) an individual;(24)(b) an association;(24)(c) an institution;(24)(d) a corporation;(24)(e) a company;(24)(f) a trust;(24)(g) a limited liability company;(24)(h) a partnership;(24)(i) a political subdivision;(24)(j) a government office, department, division, bureau, or other body of government; and(24)(k) any other organization or entity. See Utah Code 68-3-12.5
- Securities intermediary: means :
(1)(o)(i) a clearing corporation; or(1)(o)(ii) a person, including a bank or broker, that in the ordinary course of its business maintains securities accounts for others and is acting in that capacity. See Utah Code 70A-8-101- Security: except as otherwise provided in Section
70A-8-102 , means an obligation of an issuer or a share, participation, or other interest in an issuer or in property or an enterprise of an issuer that:(1)(p)(i) is represented by a security certificate in bearer or registered form, or the transfer of which may be registered upon books maintained for that purpose by or on behalf of the issuer;(1)(p)(ii) is one of a class or series or by its terms is divisible into a class or series of shares, participations, interests, or obligations; and(1)(p)(iii)(1)(p)(iii)(A) is, or is of a type, dealt in or traded on securities exchanges or securities markets; or(1)(p)(iii)(B) is a medium for investment and by its terms expressly provides that it is a security governed by this chapter. See Utah Code 70A-8-101- Security certificate: means a certificate representing a security. See Utah Code 70A-8-101
- Uncertificated security: means a security that is not represented by a certificate. See Utah Code 70A-8-101
(1)(a) the purchaser acquires possession of the security certificate;(1)(b) another person, other than a securities intermediary, either acquires possession of the security certificate on behalf of the purchaser or, having previously acquired possession of the certificate, acknowledges that it holds for the purchaser; or(1)(c) a securities intermediary acting on behalf of the purchaser acquires possession of the security certificate, only if the certificate is in registered form and is:(1)(c)(i) registered in the name of the purchaser;(1)(c)(ii) payable to the order of the purchaser; or(1)(c)(iii) specially indorsed to the purchaser by an effective indorsement and has not been indorsed to the securities intermediary or in blank.(2) Delivery of an uncertificated security to a purchaser occurs when:(2)(a) the issuer registers the purchaser as the registered owner, upon original issue or registration of transfer; or(2)(b) another person, other than a securities intermediary, either becomes the registered owner of the uncertificated security on behalf of the purchaser or, having previously become the registered owner, acknowledges that it holds for the purchaser. - Securities intermediary: means :