§ 8106. Control
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 13 Pa.C.S.A. Commercial CodeEffective: July 1, 2001
Effective: July 1, 2001
13 Pa.C.S.A. § 8106
§ 8106. Control
(f) Purchaser under subsection (c) or (d).--A purchaser who has satisfied the requirements of subsection (c) or (d) has control even if the registered owner in the case of subsection (c) or the entitlement holder in the case of subsection (d) 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) Agreement of issuer or securities intermediary under subsection (c)(2) or (d)(2).--An issuer or a securities intermediary may not enter into an agreement of the kind described in subsection (c)(2) or (d)(2) 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. An issuer or securities intermediary that has entered into such an agreement is not required to confirm the existence of the agreement to another party unless requested to do so by the registered owner or entitlement holder.
Credits
1996, May 22, P.L. 248, No. 44, § 8, effective in 180 days. Amended 2001, June 8, P.L. 123, No. 18, § 14, effective July 1, 2001.
13 Pa.C.S.A. § 8106, PA ST 13 Pa.C.S.A. § 8106
Current through Act 13 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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