This legal document, part of the Minnesota Statutes under the Uniform Commercial Code, governs the acquisition of securities or financial assets. It outlines the conditions under which a person can acquire a security or an interest therein, either by being a purchaser to whom a security is delivered or by acquiring a security entitlement. It also covers the acquisition of financial assets through a security entitlement. The document specifies the rights of a person who acquires a security entitlement, but clarifies that they are only a purchaser of any security, security entitlement, or other financial asset held by the securities intermediary to the extent provided in section 336.

This legal document, governed by the Minnesota Statutes under the Uniform Commercial Code, specifically addresses the concept of ‘Notice of Adverse Claim’. It outlines the circumstances under which a person can be considered to have notice of an adverse claim. These circumstances include having actual knowledge of the adverse claim, being aware of facts that indicate a significant probability of the adverse claim’s existence and deliberately avoiding information, or having a duty to investigate the existence of an adverse claim.

This legal document, Minnesota Statutes 336.8-106, governs the concept of ‘control’ in relation to certificated and uncertificated securities. It outlines the conditions under which a purchaser has control over a certificated security in bearer form, registered form, or an uncertificated security. The document also specifies the requirements for control of a security entitlement. It further clarifies that if an interest in a security entitlement is granted by the entitlement holder to their own securities intermediary, the securities intermediary has control.

This legal document, governed by the Minnesota Statutes under the Uniform Commercial Code, specifically addresses the effectiveness of endorsement, instruction, or entitlement orders in relation to securities and financial assets. It defines the ‘appropriate person’ who is entitled to the security or financial asset and outlines the conditions under which an endorsement, instruction, or entitlement order is considered effective. The document also states that an endorsement, instruction, or entitlement order made by a representative remains effective even if the representative fails to comply with a controlling instrument or breaches their duty.

This legal document, governed by the Uniform Commercial Code under the Trade Regulations and Consumer Protection in Minnesota Statutes, outlines the warranties associated with the transfer and endorsement of certificated and uncertificated securities. The document specifies the warranties that a transferor or endorser provides to the purchaser, including the genuineness and non-alteration of the certificate, absence of adverse claims, compliance with transfer restrictions, and the effectiveness and rightful nature of the transfer.

This legal document, part of the Minnesota Statutes under the Uniform Commercial Code, governs the warranties in indirect holding of securities. It outlines the obligations and warranties that apply to various parties involved in securities transactions. The document specifies that a person originating an entitlement order to a securities intermediary warrants that the order is made by an appropriate person and that there is no adverse claim to the security entitlement.

This legal document, part of the Minnesota Statutes under the Trade Regulations and Consumer Protection section, specifically the Uniform Commercial Code, addresses the applicability and choice of law for different aspects related to securities and security entitlements. It establishes that the local law of the issuer’s jurisdiction governs the validity of a security, rights and duties of the issuer with respect to registration of transfer, effectiveness of registration of transfer, duties to an adverse claimant, and whether an adverse claim can be asserted against a person to whom transfer of a certificated or uncertificated security is registered or a person who obtains control of an uncertificated security.

A rule adopted by a clearing corporation governing rights and obligations among the clearing corporation and its participants in the clearing corporation is effective even if the rule conflicts with this chapter and affects another party who does not consent to the rule. History: 1995 c 194 art 1 s 11

This legal document, governed by the Minnesota Statutes under the Uniform Commercial Code, outlines the process by which a creditor can reach the interest of a debtor in different types of securities. The document specifies that the interest of a debtor in a certificated security can only be reached by actual seizure of the security certificate, unless the certificate has been surrendered to the issuer. For an uncertificated security, the creditor can reach the debtor’s interest through legal process upon the issuer.

A contract or modification of a contract for the sale or purchase of a security is enforceable whether or not there is a writing signed or record authenticated by a party against whom enforcement is sought, even if the contract or modification is not capable of performance within one year of its making. History: 1995 c 194 art 1 s 13