Older Uniform Acts

Securities Transfer Act



PART 4 - TRANSFER OF CERTIFICATED AND UNCERTIFICATED SECURITIES

DIVISION 1 - DELIVERY AND RIGHTS OF PURCHASER

Delivery of security


79(1)    Delivery of a certificated security to a purchaser occurs when
(a)    the purchaser acquires possession of the security certificate,
(b)    another person, other than a securities intermediary, either
(i)    acquires possession of the security certificate on behalf of the purchaser, or
(ii)    having previously acquired possession of the security certificate, acknowledges that the person holds the security certificate for the purchaser,
or
(c)    a securities intermediary acting on behalf of the purchaser acquires possession of the security certificate, only if the security certificate is in registered form and is
  • (i)    registered in the name of the purchaser,
  • (ii)    payable to the order of the purchaser, or
  • (iii)    specially endorsed to the purchaser by an effective endorsement and has not been endorsed to the securities intermediary or in blank.
(2)    Delivery of an uncertificated security to a purchaser occurs when
(a)    the issuer registers the purchaser as the registered owner, on the original issue or registration of transfer, or
(b)    another person, other than a securities intermediary, either
  • (i)    becomes the registered owner of the uncertificated security on behalf of the purchaser, or
  • (ii)    having previously become the registered owner, acknowledges that the person holds the uncertificated security for the purchaser.
Rights of purchaser

80(1)    Except as otherwise provided for in subsections (2) and (3), a purchaser of a certificated security or an uncertificated security acquires all rights in the security that the transferor had or had power to transfer.
(2)    A purchaser of a limited interest acquires rights only to the extent of the interest purchased.
(3)    A purchaser of a certificated security who as a previous holder had notice of an adverse claim does not improve that purchaser’s position by virtue of taking from a protected purchaser.

Protected purchaser

81    A protected purchaser, in addition to acquiring the rights of a purchaser, also acquires the purchaser’s interest in the security free of any adverse claim.

Next Annual Meeting

2020 Annual Meeting

Place to be Announced

August 9 – 13, 2020