UCC [section] 9-313(a) permits perfection of "certificated securities" (40) by "taking delivery." (41) Delivery occurs when a person (either directly or through a third-party "securities intermediary" (42)) "acquires possession of the security certificate, (43) Alternatively, and for uncertificated securities, perfection is obtained through is control, (44) a process that also depends is on whether a securities intermediary is involved.
The efficiency of emission has been assessed for uncertificated bonds with a purchase option in three years; a coupon rate is defined at the level of 10.15%, quarterly payments.
(105) As part of its Delaware Blockchain Initiative, the state has partnered with Symbiont, a smart contract start-up, to create a system that can "move the process of registering companies, tracking share movements, and managing shareholder communications into a digital environment." (106) The state government is in the process of creating a new type of corporate share, the "distributed ledger share," that will join traditional certificated and uncertificated shares.
The peculiar situation here is that knowledge of the principles and patterns of African civilisation remained with ordinary, uncertificated men and women, especially of those in rural areas.
Growing concerns in the early 1980s that uncertificated films could be released for the home video market and be available, in theory, to children of any age resulted in the 1984 Video Recordings Act, which required video releases to be certificated for home viewing.
Then they explore more broadly how financial collateral is used in a range of different markets, showing how security over financial collateral is taken and perfected, including where financial instruments are held in uncertificated form.
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