Acquisition of security or financial asset or interest therein.

1. A person acquires a security or an interest therein, under this Article , if: a. the person is a purchaser to whom a security is delivered pursuant to section 554.8301 ; or b. the person acquires a security entitlement to the security pursuant to section 554.8501 . 2. 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. 3. A person who acquires a security entitlement to a security or other financial asset has the rights specified in part 5 , but is a purchaser of any security, security entitlement, or other financial asset held by the securities intermediary only to the extent provided in section 554.8503 . 4. 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 1 or 2 . [C66, 71, 73, 75, 77, 79, 81, §554.8104 ] 89 Acts, ch 113, §3 ; 96 Acts, ch 1138, §12, 84 ; 2017 Acts, ch 54, §67