O.C.G.A.
O.C.G.A.

O.C.G.A. § 11-8-104 (2019)

Acquisition of security or financial asset or interest therein

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
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(a) A person acquires a security or an interest therein, under this article, if:

(1) The person is a purchaser to whom a security is delivered pursuant to Code Section 11-8-301; or

(2) The person acquires a security entitlement to the security pursuant to Code Section 11-8-501.

(b) A person acquires a financial asset, other than a security, or an interest therein, under this article, if the person acquires a security entitlement to the financial asset.

(c) A person who acquires a security entitlement to a security or other financial asset has the rights specified in Part 5 of this article, but is a purchaser of any security, security entitlement, or other financial asset held by the securities intermediary only to the extent provided in Code Section 11-8-503.

(d) 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 (a) or (b) of this Code section.

History

Code 1981, § 11-8-104, enacted by Ga. L. 1998, p. 1323, § 1.

Annotations

RESEARCH REFERENCES U.L.A. Uniform Commercial Code (U.L.A.) § 8104. ALR. Liability of public corporation for money

received by it for unlawfully issued instrument of indebtedness, 7 A.L.R. 353.

Notes of Decisions
Cited in 2 cases (1 in the last 5 years), 1995–2023 · leading case: Lister v. Scriver, 456 S.E.2d 83 (Ga. Ct. App. 1995).
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Lister v. Scriver, 456 S.E.2d 83 (Ga. Ct. App. 1995). · cites it 2× “See OCGA § 11-8-104 (1). We do not agree. Neither plaintiff Ontario nor plaintiff Lister asserted such a right of recovery in the pre-trial order.”
James Daniel Wisner v. The Piedmont Bank (11th Cir. 2023). “7 7 Piedmont also argues that it obtained an interest as a “purchaser” of the stock under O.C.G.A. § 11-8-104(a)(1). Georgia law defines “purchase” with refer- ence to the creation of an interest in the property.”
— 11-8-104(a)(1) — 1 case
James Daniel Wisner v. The Piedmont Bank (11th Cir. 2023). “7 7 Piedmont also argues that it obtained an interest as a “purchaser” of the stock under O.C.G.A. § 11-8-104(a)(1). Georgia law defines “purchase” with refer- ence to the creation of an interest in the property.”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.