The Florida Senate

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 financial asset, other than a security, or an interest therein, under this chapter, if the 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 V, but is a purchaser of any security, security entitlement, or other financial asset held by the securities intermediary only to the extent provided in s. 678.5031.

(4)  Unless the context shows that a different meaning is intended, 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 subsection (2).

History.--s. 1, ch. 98-11.