§ 8-501. Security entitlements
West's Annotated Code of MarylandCommercial Law
MD Code, Commercial Law, § 8-501
§ 8-501. Security entitlements
(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 comprise the financial asset.
(d) If a securities intermediary holds a financial asset for another person, and the financial asset is registered in the name of, payable to the order of, or specially indorsed to the other person, and has not been indorsed to the securities intermediary or in blank, the other person is treated as holding the financial asset directly rather than as having a security entitlement with respect to the financial asset.
Credits
Added by Acts 1996, c. 92, § 2, eff. Oct. 1, 1996.
MD Code, Commercial Law, § 8-501, MD COML § 8-501
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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