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6 chapters · 52 sections in this title.
Va. Code Ann. § 8.8A-501 Securities account; acquisition of security entitlement from securities intermediary
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(a) "Securities account" means an account to which a financial asset is or may be credited in accordance with an agreement under which the person maintaining the account undertakes to treat the person for whom the account is maintained as entitled to exercise the rights that comp…
Va. Code Ann. § 8.8A-502 Assertion of adverse claim against entitlement holder
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An action based on an adverse claim to a financial asset, whether framed in conversion, replevin, constructive trust, equitable lien, or other theory, may not be asserted against a person who acquires a security entitlement under § 8.8A-501 for value and without notice of the adv…
Va. Code Ann. § 8.8A-503 Property interest of entitlement holder in financial asset held by securities intermediary
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(a) To the extent necessary for a securities intermediary to satisfy all security entitlements with respect to a particular financial asset, all interests in that financial asset held by the securities intermediary are held by the securities intermediary for the entitlement holde…
Va. Code Ann. § 8.8A-504 Duty of securities intermediary to maintain financial asset
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(a) A securities intermediary shall promptly obtain and thereafter maintain a financial asset in a quantity corresponding to the aggregate of all security entitlements it has established in favor of its entitlement holders with respect to that financial asset. The securities inte…