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Can you summarize MNST 336.8-301?
UNIFORM COMMERCIAL CODE > DELIVERY.
Short Summary
This legal document, which is a part of the Minnesota Statutes under the Trade Regulations and Consumer Protection section, specifically the Uniform Commercial Code, discusses the concept of delivery of certificated and uncertificated securities to purchasers. It outlines the various scenarios in which delivery occurs for both types of securities. For certificated securities, delivery occurs when the purchaser acquires possession of the security certificate, another person acquires possession on behalf of the purchaser, or a securities intermediary acquires possession on behalf of the purchaser under certain conditions. For uncertificated securities, delivery occurs when the issuer registers the purchaser as the registered owner or another person becomes the registered owner on behalf of the purchaser. The document provides historical references and mentions the repeal of certain sections. However, it does not mention any specific exemptions or penalties related to the delivery of securities to purchasers.
Whom does it apply to?
Purchasers of certificated and uncertificated securities
What does it govern?
Delivery of certificated and uncertificated securities to purchasers
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Minnesota