Section 440.8104 - Security or interest in security; financial asset; security entitlement; acquisition; placing security or financial asset in possession of another person(1) A person acquires a security or an interest in a security under this article in either of the following situations:(a) The person is a purchaser to whom a security is delivered pursuant to section 8301.(b) The person acquires a security entitlement to the security pursuant to section 8501.(2) A person acquires a financial asset, other than a security, or an interest in the security, 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 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).1962, Act 174, Eff. 1/1/1964 ;--Am. 1987, Act 16, Imd. Eff. 4/24/1987 ;--Am. 1998, Act 278, Imd. Eff. 7/27/1998.