Section 355.8-301 - Delivery(1) Delivery of a certificated security to a purchaser occurs when:(a) The purchaser acquires possession of the security certificate;(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(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. Registered in the name of the purchaser;2. Payable to the order of the purchaser; or3. 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:(a) The issuer registers the purchaser as the registered owner, upon original issue or registration of transfer; or(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.Effective:7/1/2001
Amended 2000, Ky. Acts ch. 408, sec. 172, effective7/1/2001. -- Repealed and reenacted 1996, Ky. Acts ch. 130, sec. 140, effective 1/1/1997. --Amended 1986 Ky. Acts ch. 118, sec. 31, effective 7/1/1987. -- Created 1958 Ky. Acts ch. 77, sec. 8-301, effective 7/1/1960.