Texas Business & Commerce Code

§ 8.106 — CONTROL

BC § 8.106Title 1. UNIFORM COMMERCIAL CODE · Ch. 8. INVESTMENT SECURITIES · Art. A. SHORT TITLE AND GENERAL MATTERS

(a)A purchaser has control of a certificated security in bearer form if the certificated security is delivered to the purchaser.

(b)A purchaser has control of a certificated security in registered form if the certificated security is delivered to the purchaser and:

(1)the certificate is indorsed to the purchaser or in blank by an effective indorsement; or

(2)the certificate is registered in the name of the purchaser, on original issue or registration of transfer by the issuer.

(c)A purchaser has control of an uncertificated security if:

(1)the uncertificated security is delivered to the purchaser; or

…

Legislative history

Amended by Acts 1995, 74th Leg., ch. 962, Sec. 1, eff. Sept. 1, 1995; Acts 1999, 76th Leg., ch. 414, Sec. 2.27, eff. July 1, 2001.