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Kansas Statutes Annotated

K.S.A. § 84-8-104 (2026)

Acquisition of security or financial asset or interest therein

✓ current as of May 2026
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84-8-104. Acquisition of security or financial asset or interest therein. (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 K.S.A. 84-8-301; or

(2) the person acquires a security entitlement to the security pursuant to K.S.A. 84-8-501.

(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 K.S.A. 84-8-501 through 84-8-511, but is a purchaser of any security, security entitlement or other financial asset held by the securities intermediary only to the extent provided in K.S.A. 84-8-503.

(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).

History: L. 1996, ch. 202, § 31; July 1.

KANSAS COMMENT, 1996

This section is new and separates the rules for acquiring a security or interest in a security (84-8-301), governed by Parts 2, 3 and 4, from acquiring a security entitlement (84-8-501), governed by 84-8-501. Subsections (c) and (d) then state the effect and method of satisfying those rules.

Revisor's Note:

Former section 84-8-104 was repealed by L. 1996, ch. 202, § 91 and the number reassigned to the current text.


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Notes of Decisions
Cited in 2 cases, 1981–2004 · leading case: Farmers State Bank & Trust Co. v. City of Yates Ctr., 624 P.2d 971 (Kan. 1981).
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Farmers State Bank & Trust Co. v. City of Yates Ctr., 624 P.2d 971 (Kan. 1981). · cites it 4× “This is an “overissue,” as contemplated by K.S.A. 84-8-104, which provides a remedy to the holders of overissue securities.”
Hughes Developers, Inc. v. Montgomery, 903 So. 2d 94 (Ala. 2004). “There are two possible remedies—the City may issue an identical note which does not constitute an overissue, or the holder may recover from the City the purchase price of the notes plus interest from date of demand.”
— K.S.A. § 84-8-104(1) — 1 case
Farmers State Bank & Trust Co. v. City of Yates Ctr., 624 P.2d 971 (Kan. 1981). “This is an “overissue,” as contemplated by K.S.A. 84-8-104, which provides a remedy to the holders of overissue securities.”
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.