Ask Reggi Your Question Now
Can you summarize MNST 336.8-102?
UNIFORM COMMERCIAL CODE > DEFINITIONS.
Short Summary
This legal document, known as the Uniform Commercial Code, specifically Article 8-102, provides definitions for terms used in the article. It governs the rules and regulations related to financial assets and securities intermediaries. The document defines various terms such as ‘adverse claim,’ ‘bearer form,’ ‘broker,’ ‘certificated security,’ ‘clearing corporation,’ ‘communicate,’ ’entitlement holder,’ ’entitlement order,’ ‘financial asset,’ ’endorsement,’ ‘instruction,’ ‘registered form,’ ‘securities intermediary,’ ‘security,’ ‘security certificate,’ ‘security entitlement,’ and ‘uncertificated security.’ The definitions provided in this document are applicable throughout the article. The document also mentions that general definitions and principles of construction and interpretation can be found in Article 1 of the Uniform Commercial Code. However, it clarifies that the characterization of a person, business, or transaction for purposes of this article does not determine their characterization for purposes of any other law, regulation, or rule.
Whom does it apply to?
This article applies to financial assets and securities intermediaries.
What does it govern?
Uniform Commercial Code
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Minnesota