(8-104) Acquisition of security or financial asset or interest therein
N.D. Cent. Code § 41-08-04
in effect41-08-04. (8-104) Acquisition of security or financial asset or interest therein
1. A person acquires a security or an interest therein, under this chapter, if:
a. The person is a purchaser to whom a security is delivered pursuant to section
41-08-27; or
b. The person acquires a security entitlement to the security pursuant to section
41-08-41.
2. A person acquires a financial asset, other than a security, or an interest therein, under
this chapter, if the person acquires a security entitlement to the financial asset.
3. A person who acquires a security entitlement to a security or other financial asset has
the rights specified in sections 41-08-41 through 41-08-51, but is a purchaser of any
security, security entitlement, or other financial asset held by the securities
intermediary only to the extent provided in section 41-08-43.
4. Unless the context shows that a different meaning is intended, a person who is
required by other law, regulation, rule, or agreement to transfer, deliver, present,
surrender, exchange, or otherwise put in the possession of another person a security
or financial asset satisfies that requirement by causing the other person to acquire an
interest in the security or financial asset pursuant to subsection 1 or 2.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t41c08.pdf#nameddest=41-08-04Fetched: 10/16/2026