N.Y. UCC Law § 8-104

Section 8--104. Acquisition of Security or Financial Asset or Interest\n Therein.\n (a) A person acquires a security or an interest therein, under this\nArticle, if:\n (1) the person is a purchaser to whom a security is delivered\n pursuant to Section 8--301; or\n (2) the person acquires a security entitlement to the security\n pursuant to Section 8--501.\n (b) A person acquires a financial asset, other than a security, or an\ninterest therein, under this Article, if the person acquires a security\nentitlement to the financial asset.\n (c) A person who acquires a security entitlement to a security or\nother financial asset has the rights specified in Part 5, but is a\npurchaser of any security, security entitlement, or other financial\nasset held by the securities intermediary only to the extent provided in\nSection 8--503.\n (d) Unless the context shows that a different meaning is intended, a\nperson who is required by other law, regulation, rule, or agreement to\ntransfer, deliver, present, surrender, exchange, or otherwise put in the\npossession of another person a security or financial asset satisfies\nthat requirement by causing the other person to acquire an interest in\nthe security or financial asset pursuant to subsection (a) or (b).\n