O.C.G.A.

O.C.G.A. § 11-8-301 (2019)

Delivery

✓ 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) Delivery of a certificated security to a purchaser occurs when:

(1) The purchaser acquires possession of the security certificate;

(2) 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

(3) A securities intermediary acting on behalf of the purchaser acquires possession of the security certificate, only if the certificate is in registered form and (i) registered in the name of the purchaser, (ii) payable to the order of the purchaser, or (iii) specially indorsed to the purchaser by an effective indorsement and has not been indorsed to the securities intermediary or in blank.

(b) Delivery of an uncertificated security to a purchaser occurs when:

(1) The issuer registers the purchaser as the registered owner, upon original issue or registration of transfer; or

(2) 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.

History

Code 1981, § 11-8-301, enacted by Ga.

L. 1998, p. 1323, § 1; Ga. L. 2001, p. 362, § 20.

Annotations

RESEARCH REFERENCES U.L.A. Uniform Commercial Code (U.L.A.) § 8301. ALR. Rights of owner and bona fide purchaser of lost or stolen stock certificates, 52 A.L.R. 947. Respective rights of owner of certificate of stock who intrusts it to a third person and a purchaser from the latter under a forged transfer or endorsement, 54 A.L.R. 353. Necessity and sufficiency of appropriation to pass title on sale of corporate stock or securities, 78 A.L.R. 1019.

Right of purchaser of stolen bonds, 102 A.L.R. 28. Right or duty of corporation to refuse to transfer stock on books to one presenting properly endorsed certificate, because of knowledge or suspicion of conflicting rights of registered holder or of third person, 139 A.L.R. 273; 75 A.L.R.2d 746. Uniform Stock Transfer Act as applicable to shares in savings and loan associations or building and loan associations, 143 A.L.R. 1152.

Notes of Decisions

Cited in 2 cases, 1991–1998 · leading case: Taylor v. Riverside-Franklin Props., Inc. (In Re Taylor), 228 B.R. 491 (Bankr. M.D. Ga. 1998).

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Taylor v. Riverside-Franklin Props., Inc. (In Re Taylor), 228 B.R. 491 (Bankr. M.D. Ga. 1998). · cites it 4× “The facts are not in dispute as to when delivery and indorsement of the stock certificate occurred.”

Wheeless v. Gelzer, 780 F. Supp. 1373 (N.D. Ga. 1991). · cites it 2× “stock, proper indorsement of a security “is made when an appropriate person signs on it or on a separate document an assignment or transfer of the security or a power to assign or transfer it or when the signature of such person is written without more upon the back of the…”

— 11-8-301(1) — 1 case

Taylor v. Riverside-Franklin Props., Inc. (In Re Taylor), 228 B.R. 491 (Bankr. M.D. Ga. 1998). “The facts are not in dispute as to when delivery and indorsement of the stock certificate occurred.”

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.