The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
(Cite as: 9A V.S.A. § 8-501)
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§ 8—501. Securities account; acquisition of security entitlement from securities intermediary
(a) “Securities account” means an account to which a financial asset is or may be credited
in accordance with an agreement under which the person maintaining the account undertakes
to treat the person for whom the account is maintained as entitled to exercise the
rights that comprise the financial asset.
(b) Except as otherwise provided in subsections (d) and (e) of this section, a person
acquires a security entitlement if a securities intermediary:
(1) indicates by book entry that a financial asset has been credited to the person’s securities
account;
(2) receives a financial asset from the person or acquires a financial asset for the person
and, in either case, accepts it for credit to the person’s securities account; or
(3) becomes obligated under other law, regulation, or rule to credit a financial asset
to the person’s securities account.
(c) If a condition of subsection (b) of this section has been met, a person has a security
entitlement even though the securities intermediary does not itself hold the financial
asset.
(d) If a securities intermediary holds a financial asset for another person, and the financial
asset is registered in the name of, payable to the order of, or specially indorsed
to the other person, and has not been indorsed to the securities intermediary or in
blank, the other person is treated as holding the financial asset directly rather
than as having a security entitlement with respect to the financial asset.
(e) Issuance of a security is not establishment of a security entitlement. (Added 1995, No. 92 (Adj. Sess.), § 1, eff. Jan. 1, 1997.)