Vermont § 501 - § 8—501.
Full text of Vermont Vermont Statutes Online § 501 — § 8—501., with citation guidance and answers to common questions.
§ 501. § 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.)
Frequently Asked Questions About Vermont § 501
What does Vermont Statutes Online § 501 cover?
Section 501 ("§ 8—501.") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Vermont § 501?
A common citation format is "Vermont Statutes Online § 501" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 501 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.