Michigan Compiled Laws

Mich. Comp. Laws § 440.8301 (2026)

Delivery of certificated or uncertificated security to purchaser.

✓ current as of July 2026

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UNIFORM COMMERCIAL CODE

Act 174 of 1962

440.8301 Delivery of certificated or uncertificated security to purchaser.

Sec. 8301.

(1) Delivery of a certificated security to a purchaser occurs when 1 of the following occurs:

(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.

(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 (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 endorsed to the securities intermediary or in blank.

(2) Delivery of an uncertificated security to a purchaser occurs when either of the following occurs:

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

(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.

History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 1987, Act 16, Imd. Eff. Apr. 24, 1987 ;-- Am. 1998, Act 278, Imd. Eff. July 27, 1998 ;-- Am. 2000, Act 348, Eff. July 1, 2001

Notes of Decisions

Cited in 4 cases, 1975–2013 · leading case: Motobecane Am., Ltd. v. Patrick Petroleum Co., 600 F. Supp. 1419 (E.D. Mich. 1985).

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Motobecane Am., Ltd. v. Patrick Petroleum Co., 600 F. Supp. 1419 (E.D. Mich. 1985). · cites it 2× “Section 440.8301 describes an adverse claim as “a claim that a transfer was or would be wrongful or that a particular adverse person is the owner of a or has an interest in the security.”

Rare Earth, Inc. v. Hoorelbeke, 401 F. Supp. 26 (S.D.N.Y. 1975). “This position fails both on the law and the facts. Under the Code, “legal title to stock passes to the buyer upon delivery of the certificate in proper form.”

Kenneth White v. JPMorgan Chase Bank, NA, 521 F. App'x 425 (6th Cir. 2013). “Consequently, Plaintiff cannot enforce the cashier’s check under Mich. Comp. Laws § 440.8301 , and thus, he is not the real party in interest under Rule 17(a).”

Motobecane Am., Ltd. v. Patrick Petroleum Co., 791 F.2d 1248 (6th Cir. 1986). ““Adverse claim” is defined in Mich. Comp. Laws § 440.8301 (1) as follows: “ ‘Adverse claim’ includes a claim that a transfer was or would be wrongful or that a particular adverse person is the owner of or has interest in the security.”

— Mich. Comp. Laws § 440.8301(1) — 1 case

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