§ 8-106. Control, defined
West's Annotated Code of MarylandCommercial Law
MD Code, Commercial Law, § 8-106
§ 8-106. Control, defined
(f) A purchaser who has satisfied the requirements of subsection (c) or (d) of this section has control even if the registered owner in the case of subsection (c) of this section or the entitlement holder in the case of subsection (d) of this section retains the right to make substitutions for the uncertificated security or security entitlement, to originate instructions or entitlement orders to the issuer or securities intermediary, or otherwise to deal with the uncertificated security or security entitlement.
(g)(1) An issuer or a securities intermediary may not enter into an agreement of the kind described in subsection (c)(2) or (d)(2) of this section without the consent of the registered owner or entitlement holder, but an issuer or a securities intermediary is not required to enter into such an agreement even though the registered owner or entitlement holder so directs.
Credits
Added by Acts 1996, c. 92, § 2, eff. Oct. 1, 1996. Amended by Acts 1999, c. 282, § 2, eff. July 1, 2001.
MD Code, Commercial Law, § 8-106, MD COML § 8-106
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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