Tennessee Code Annotated
Tenn. Code Ann. § 47-8-301 (2024)
Delivery
✓ Justia copy: laws through about 2024 (2025 and 2026 sessions missing)
- (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 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 endorsement 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.
Acts 1997, ch. 79, § 1; 2000, ch. 846, § 19.
Notes of Decisions
Cited in 1
case, 2017–2017 · leading case: John Anthony Gentry v. Katherine Wise Gentry, No. M2016-01765-COA-R3-CV, 2017 WL 6623387 (Tenn. Ct. App. Dec. 28, 2017).
John Anthony Gentry v. Katherine Wise Gentry, No. M2016-01765-COA-R3-CV, 2017 WL 6623387 (Tenn. Ct. App. Dec. 28, 2017). “See Tenn. Code Ann. § 47-8-301 . Therefore, the gift was never completed.”
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