美国统一商法典翻译模板（中英文 第8-110至9-100款）

　　§ 8-110. APPLICABILITY; CHOICE OF LAW. 适应性;法律选择.

　　(a) The local law of the issuer's jurisdiction, as specified in subsection (d), governs:

　　(1) the validity of a security;

　　(2) the rights and duties of the issuer with respect to registration of transfer;

　　(3) the effectiveness of registration of transfer by the issuer;

　　(4) whether the issuer owes any duties to an adverse claimant to a security; and

　　(5) whether an adverse claim can be asserted against a person to whom transfer of a certificated or uncertificated security is registered or a person who obtains control of an uncertificated security.

　　(a) 发行人的管辖地的当地法律，如(d)款规定，调整：

　　(1) 该证券有效;

　　(2) 发行人关于转让登记的权利和义务;

　　(3) 发行人转让登记的效力;

　　(4) 发行人是否欠证券不利主张权利人任何义务;以及

　　(5) 不利主张是否可以向证书证券或非证书证券的转让被登记给的人或获得非证书证券的控制的人主张。

　　(b) The local law of the securities intermediary's jurisdiction, as specified in subsection (e), governs:

　　(1) acquisition of a security entitlement from the securities intermediary;

　　(2) the rights and duties of the securities intermediary and entitlement holder arising out of a security entitlement;

　　(3) whether the securities intermediary owes any duties to an adverse claimant to a security entitlement; and

　　(4) whether an adverse claim can be asserted against a person who acquires a security entitlement from the securities intermediary or a person who purchases a security entitlement or interest therein from an entitlement holder.

　　(b) 证券中介的管辖地的当地法律，如(e)款规定，调整：

　　(1) 从证券中介获得证券权利;

　　(2) 证券中介和权利持有人产生于证券权利的权利和义务;

　　(3) 证券中介是否欠证券权利不利主张权利人任何义务;以及

　　(4) 不利主张是否可以向从证券中介获得证券权利的人或从权利持有人购买证券权利或其中的权益的人主张。

　　(c) The local law of the jurisdiction in which a security certificate is located at the time of delivery governs whether an adverse claim can be asserted against a person to whom the security certificate is delivered.

　　(d) "Issuer's jurisdiction" means the jurisdiction under which the issuer of the security is organized or, if permitted by the law of that jurisdiction, the law of another jurisdiction specified by the issuer. An issuer organized under the law of this State may specify the law of another jurisdiction as the law governing the matters specified in subsection (a)(2) through (5).

　　(e) The following rules determine a "securities intermediary's jurisdiction" for purposes of this section:

　　(1) If an agreement between the securities intermediary and its entitlement holder governing the securities account expressly provides that a particular jurisdiction is the securities intermediary's jurisdiction for purposes of this part, this article, or this act, that jurisdiction is the securities intermediary's jurisdiction.

　　(2) If paragraph (1) does not apply and an agreement between the securities intermediary and its entitlement holder expressly provides that the agreement is governed by the law of a particular jurisdiction, that jurisdiction is the securities intermediary's jurisdiction.

　　(3) If neither paragraph (i) nor paragraph (ii) applies and an agreement between the securities intermediary and its entitlement holder governing the securities account expressly provides that the securities account is maintained at an office in a particular jurisdiction, that jurisdiction is the securities intermediary's jurisdiction.

　　(4) If none of the preceding paragraphs applies, the securities intermediary's jurisdiction is the jurisdiction in which the office identified in an account statement as the office serving the entitlement holder's account is located.

　　(5) If none of the preceding paragraphs applies, the securities intermediary's jurisdiction is the jurisdiction in which the chief executive office of the securities intermediary is located.

　　(c) 证券证书交付时处于的管辖地的当地法律调整不利主张是否可以向接收证券证书的人主张。

　　(d) "发行人的管辖地" 指证券发行人组织成立的管辖区域，或者，若管辖地法律允许，发行人说明的其他管辖地的法律。根据本州法律组织成立的发行人可以指定其他管辖地的法律作为调整(a)(2)至(5)款指定的事件的法律。

　　(e) 下列规则为本条的目的决定"证券中介的管辖地"：

　　(1) 若证券中介和其权利持有人之间调整证券帐户的协议明确规定，为本章、本篇或本法案的目的，一个特定的管辖地是证券中介的管辖地，则该管辖地是证券中介的管辖地。

　　(2) 若(1)段不适用，并且证券中介和其权利持有人之间的协议明确规定，该协议受一个特定的管辖地的法律调整，则该管辖地是证券中介的管辖地。

　　(3) 若(i)段和(ii)段均不适用和证券中介和其权利持有人之间调整证券帐户的协议明确规定，证券帐户在一个特定的管辖地的登记处保存，则该管辖地是证券中介的管辖地。

　　(4) 若前述各段均不适用，证券中介的管辖地是帐户申明书中确定作为服务该权利持有人的帐户的登记处处于的管辖地。

　　(5)若前述各段均不适用，证券中介的管辖地是证券中介总部处于的管辖地。

　　(f) A securities intermediary's jurisdiction is not determined by the physical location of certificates representing financial assets, or by the jurisdiction in which is organized the issuer of the financial asset with respect to which an entitlement holder has a security entitlement, or by the location of facilities for data processing or other record keeping concerning the account.

　　(f) 证券中介的管辖地非由体现融资财产的证书的实际位置决定，或权利持有人享有证券权利的融资财产的发行人组织成立的管辖地，或资料处理设备所在地或关于该帐户的档案保存设备所在地。

　　§ 8-111. CLEARING CORPORATION RULES. 代理商品交易公司规则.

　　A rule adopted by a clearing corporation governing rights and obligations among the clearing corporation and its participants in the clearing corporation is effective even if the rule conflicts with this [Act] and affects another party who does not consent to the rule.

　　代理商品交易公司采用的规则调整在代理商品交易公司和其在该代理商品交易公司参与者之间的权利和义务，有效，即使该规则与本[法案]相冲突，并影响不同意该规则的其他当事人。

　　§ 8-112. CREDITOR'S LEGAL PROCESS. 债权人的法律程序.

　　(a) The interest of a debtor in a certificated security may be reached by a creditor only by actual seizure of the security certificate by the officer making the attachment or levy, except as otherwise provided in subsection (d). However, a certificated security for which the certificate has been surrendered to the issuer may be reached by a creditor by legal process upon the issuer.

　　(b) The interest of a debtor in an uncertificated security may be reached by a creditor only by legal process upon the issuer at its chief executive office in the United States, except as otherwise provided in subsection (d).

　　(c) The interest of a debtor in a security entitlement may be reached by a creditor only by legal process upon the securities intermediary with whom the debtor's securities account is maintained, except as otherwise provided in subsection (d).

　　(a) 除非(d)款另有规定，债权人仅可通过作出扣押或征收的政府官员对证券证书的实际查封，实现债务人在证书证券中的权益。但是，对于证书证券，该证书已经被交给发行人的，通过对发行人的法律程序，债权人可以得到该证书证券。

　　(b) 除非(d)款另有规定，债权人仅可在发行人在美国的总部通过对发行人的法律程序，实现债务人在非证书证券中的权益。

　　(c) 除非(d)款另有规定，债权人仅可通过对保存债务人的证券帐户的证券中介的法律程序，实现债务人在证书证券中的权益。

　　(d) The interest of a debtor in a certificated security for which the certificate is in the possession of a secured party, or in an uncertificated security registered in the name of a secured party, or a security entitlement maintained in the name of a secured party, may be reached by a creditor by legal process upon the secured party.

　　(e) A creditor whose debtor is the owner of a certificated security, uncertificated security, or security entitlement is entitled to aid from a court of competent jurisdiction, by injunction or otherwise, in reaching the certificated security, uncertificated security, or security entitlement or in satisfying the claim by means allowed at law or in equity in regard to property that cannot readily be reached by other legal process.

　　(d) 证书由担保权人占有的，债务人在证书证券中的权益，或以担保权人名义登记的非证书证券中的权益，或以担保权人名义保存的证券权利，债权人可以通过对担保权人的法律程序实现。

　　(e) 债权人的债务人是证书证券、非证书证券、或证券权利的所有者的，对有权管辖地的法院享有获得援助的权利，通过禁令或者其他方式，在得到证书证券、非证书证券、或证券权利中，或在清偿该主张中，通过关于不能通过其他法律程序容易实现的财产，法律允许的方法或平衡法中的方法。

　　§ 8-113. STATUTE OF FRAUDS INAPPLICABLE. 反欺诈法不适用.

　　A contract or modification of a contract for the sale or purchase of a security is enforceable whether or not there is a writing signed or record authenticated by a party against whom enforcement is sought, even if the contract or modification is not capable of performance within one year of its making.

　　证券买卖、购买合同或其修正具有强制执行效力，无论是否有执行对象当事人签署的书面文件或经其鉴别的档案，即使该合同或修正在其作出一年之内不能履行。

　　§ 8-114. EVIDENTIARY RULES CONCERNING CERTIFICATED SECURITIES.

　　关于证书证券的证据规则.

　　The following rules apply in an action on a certificated security against the issuer:

　　(1) Unless specifically denied in the pleadings, each signature on a security certificate or in a necessary indorsement is admitted.

　　(2) If the effectiveness of a signature is put in issue, the burden of establishing effectiveness is on the party claiming under the signature, but the signature is presumed to be genuine or authorized.

　　(3) If signatures on a security certificate are admitted or established, production of the certificate entitles a holder to recover on it unless the defendant establishes a defense or a defect going to the validity of the security.

　　(4) If it is shown that a defense or defect exists, the plaintiff has the burden of establishing that the plaintiff or some person under whom the plaintiff claims is a person against whom the defense or defect cannot be asserted.

　　下列规则在对证书证券发行人的诉讼中适用：

　　(1) 除非在诉讼中明确否定，证券证书或必要的背书中的每个签名被承认。

　　(2) 若签名的效力处于争议中，证明有效的举证责任由根据该签名提出主张的人负担，但是该签名被假定真实可信。

　　(3) 若证券证书的签名被承认或被证明，该证书的制作使持有人在其上享有胜诉权，除非被告证明对该证券的效力有一项抗辩或缺陷。

　　(4) 若一项抗辩或缺陷被出示，原告负责证明原告或其主张在其名义下的人是该抗辩或缺陷不能向其主张的人。

　　§ 8-115. SECURITIES INTERMEDIARY AND OTHERS NOT LIABLE TO ADVERSE CLAIMANT.

　　证券中介和其他人不向不利主张权利人承担责任.

　　A securities intermediary that has transferred a financial asset pursuant to an effective entitlement order, or a broker or other agent or bailee that has dealt with a financial asset at the direction of its customer or principal, is not liable to a person having an adverse claim to the financial asset, unless the securities intermediary, or broker or other agent or bailee:

　　(1) took the action after it had been served with an injunction, restraining order, or other legal process enjoining it from doing so, issued by a court of competent jurisdiction, and had a reasonable opportunity to act on the injunction, restraining order, or other legal process; or

　　(2) acted in collusion with the wrongdoer in violating the rights of the adverse claimant; or

　　(3) in the case of a security certificate that has been stolen, acted with notice of the adverse claim.

　　证券中介已经依据有效的权益指令转让融资财产的，或经纪人或其他代理人或保管人已经根据消费者或本人的指示处理融资财产的，不向对该融资财产享有不利主张的人承担责任，除非该证券中介、或经纪人或其他代理人或保管人：

　　(1) 有权管辖地的法院发布，并送达一份禁令、限制令或禁止其如此作为的其他法定程序，而其有合理的机会按该禁令、限制令或其他法定程序行事，在在此之后，其提起诉讼;或

　　(2) 与做坏事的人串通，侵害不利主张权利人的权利;或

　　(3) 在证券证书被盗的情形，按照不利主张通知行事。

　　§ 8-116. SECURITIES INTERMEDIARY AS PURCHASER FOR VALUE.

　　作为有偿购买人的证券中介.

　　A securities intermediary that receives a financial asset and establishes a security entitlement to the financial asset in favor of an entitlement holder is a purchaser for value of the financial asset. A securities intermediary that acquires a security entitlement to a financial asset from another securities intermediary acquires the security entitlement for value if the securities intermediary acquiring the security entitlement establishes a security entitlement to the financial asset in favor of an entitlement holder.

　　证券中介收到融资财产和证明融资财产中的证券权利有利于权利持有人的，是该融资财产的有偿购买人。证券中介从其他证券中介获得对融资财产的证券权利的，有偿获得证券权利，若获得该证券权利的证券中介证明对融资财产的证券权利有利于权利持有人。

　　PART 2. ISSUE AND ISSUER [Table of Contents] .发行人的发行

　　§ 8-201. ISSUER. 发行人.

　　(a) With respect to an obligation on or a defense to a security, an "issuer" includes a person that:

　　(1) places or authorizes the placing of its name on a security certificate, other than as authenticating trustee, registrar, transfer agent, or the like, to evidence a share, participation, or other interest in its property or in an enterprise, or to evidence its duty to perform an obligation represented by the certificate;

　　(2) creates a share, participation, or other interest in its property or in an enterprise, or undertakes an obligation, that is an uncertificated security;

　　(3) directly or indirectly creates a fractional interest in its rights or property, if the fractional interest is represented by a security certificate; or

　　(4) becomes responsible for, or in place of, another person described as an issuer in this section.

　　(b) With respect to an obligation on or defense to a security, a guarantor is an issuer to the extent of its guaranty, whether or not its obligation is noted on a security certificate.

　　(c) With respect to a registration of a transfer, issuer means a person on whose behalf transfer books are maintained.

　　(a) 关于证券上的债务或对证券的抗辩，"发行人" 包括下述人：

　　(1) 放置或批准其名字在证券证书上的放置的人，除作为鉴别保管人、登记员、转让代理人或类似人之外，以证明共有、参与、或在其财产中或在一个企业中的其他权益，或证明其履行该证书体现的债务的义务; (2) 创设共有、参与、或在其财产中或在一个企业中的其他权益，或承担作为非证书证券的一项债务;

　　(3) 直接或间接地创设在其权利或财产中的部分权益，若该部分的权益由证券证书表现;或

　　(4) 成为应对在本条中规定为发行人的其他人负责或代替之。

　　(b) 关于证券上的债务或对其抗辩，保证人在其保证范围内是发行人，无论其债务是否在证券证书注明。 (c) 关于一项转让登记，发行人指过户帐(transfer books)为其利益而保存的人。

　　§ 8-202. ISSUER'S RESPONSIBILITY AND DEFENSES; NOTICE OF DEFECT OR DEFENSE.

　　发行人的责任和抗辩;缺陷或抗辩的通知.

　　(a) Even against a purchaser for value and without notice, the terms of a certificated security include terms stated on the certificate and terms made part of the security by reference on the certificate to another instrument, indenture, or document or to a constitution, statute, ordinance, rule, regulation, order, or the like, to the extent the terms referred to do not conflict with terms stated on the certificate. A reference under this subsection does not of itself charge a purchaser for value with notice of a defect going to the validity of the security, even if the certificate expressly states that a person accepting it admits notice. The terms of an uncertificated security include those stated in any instrument, indenture, or document or in a constitution, statute, ordinance, rule, regulation, order, or the like, pursuant to which the security is issued.

　　(a) 甚 至对于没有得到通知的有偿购买人，证书证券的条款包括该证书规定的条款，和作为该证券的部分、在该证书上涉及其他票据、契约或单据或涉及宪法、法令、条 例、规则、规章、指令或类似文件的条款，在该提到的条款不与该证书规定的条款相冲突的范围内。得到影响证券效力的缺陷的通知的，本款下的参照本身不责令购 买人支付对价，即使该证书明确规定接受其的人承认通知。非证书证券的条款包括在任何票据、契约或单据中规定的条款，或宪法、法令、条例、规则、规章、指令或类似文件中规定的条款，该证券据以发行。

　　(b) The following rules apply if an issuer asserts that a security is not valid:

　　(1) A security other than one issued by a government or governmental subdivision, agency, or instrumentality, even though issued with a defect going to its validity, is valid in the hands of a purchaser for value and without notice of the particular defect unless the defect involves a violation of a constitutional provision. In that case, the security is valid in the hands of a purchaser for value and without notice of the defect, other than one who takes by original issue.

　　(2) Paragraph (1) applies to an issuer that is a government or governmental subdivision, agency, or instrumentality only if there has been substantial compliance with the legal requirements governing the issue or the issuer has received a substantial consideration for the issue as a whole or for the particular security and a stated purpose of the issue is one for which the issuer has power to borrow money or issue the security.

　　(b) 下列规则适用，若发行人主张一张证券无效：

　　(1) 证券除政府或政府部门、机构、或分支机构发行的以外，即使发行时带有影响其效力的缺陷，在有偿购买人控制并且没有得到特定缺陷的通知的，该证券有效，除非 该缺陷包含宪法条款的违反。 在该情形，在有偿购买人控制并且没有得到特定缺陷的通知的，该证券有效，除通过最初的发行取得的以外。

　　(2) (1)段适用于作为政府或政府部门、机构、或分支机构的发行人，仅当调整该发行的法定条件已经得到实质的遵从，或发行人已经收到对该总体发行或对特定证券的实质的对价，并且，发行的规定目的之一是发行人有权借钱或发行该证券。

　　(c) Except as otherwise provided in Section 8-205, lack of genuineness of a certificated security is a complete defense, even against a purchaser for value and without notice.

　　(d) All other defenses of the issuer of a security, including nondelivery and conditional delivery of a certificated security, are ineffective against a purchaser for value who has taken the certificated security without notice of the particular defense.

　　(e) This section does not affect the right of a party to cancel a contract for a security "when, as and if issued" or "when distributed" in the event of a material change in the character of the security that is the subject of the contract or in the plan or arrangement pursuant to which the security is to be issued or distributed.

　　(f) If a security is held by a securities intermediary against whom an entitlement holder has a security entitlement with respect to the security, the issuer may not assert any defense that the issuer could not assert if the entitlement holder held the security directly.

　　(c) 除非§ 8-205另有规定，证书证券真实性的缺乏是完全的抗辩，甚至对于没有得到通知的有偿购买人。 (d) 有偿购买人没有得到特定抗辩的通知而取得证书证券的，证券发行人的所有其他抗辩，包括证书证券的不交付和有条件交付，对于该购买人有效。

　　(e) 本条不影响当事人取消合同的权利，为一张证券当，作为并若被分配或当被分配在该证券的特性方面发生实质的变更时，该证券是合同的标的或在该证券将依照其发行或分配的计划或安排中。

　　(f) 若权利持有人对持有证券的证券中介享有证券权利，发行人不得主张发行人不可主张的任何抗辩，若权利持有人直接持有该证券。

　　§ 8-203. STALENESS AS NOTICE OF DEFECT OR DEFENSE.

　　作为缺陷或抗辩通知的失效.

　　After an act or event, other than a call that has been revoked, creating a right to immediate performance of the principal obligation represented by a certificated security or setting a date on or after which the security is to be presented or surrendered for redemption or exchange, a purchaser is charged with notice of any defect in its issue or defense of the issuer, if the act or event:

　　(1) requires the payment of money, the delivery of a certificated security, the registration of transfer of an uncertificated security, or any of them on presentation or surrender of the security certificate, the money or security is available on the date set for payment or exchange, and the purchaser takes the security more than one year after that date; or

　　(2) is not covered by paragraph (1) and the purchaser takes the security more than two years after the date set for surrender or presentation or the date on which performance became due.

　　在行为或事件之后，除了已被撤回的呼吁外，创设对证书证券所载主债务的立即履行的权利，或因补偿或兑换而需提示或交出证券，由此设定该证券应或在其后应提示或交出的日期，购买人对于在发行人的发行或抗辩中的任何缺陷的通知负责，若该行为或事件：

　　(1) 要求金钱的付款，证书证券的交付，非证书证券的转让登记，或证券证书的提示或交出方面上述任何行为，该金钱或证券在为付款或兑换而设定的日期可获得，并且该购买人在该日期之后超过一年取得该证券;或

　　(2) 不包含于(1)段并且，设定为交出或提示的日期之后超过两年，或者履行到期的日期，该购买人取得该证券。

　　§ 8-204. EFFECT OF ISSUER'S RESTRICTION ON TRANSFER.

　　发行人对转让的限制的效力.

　　A restriction on transfer of a security imposed by the issuer, even if otherwise lawful, is ineffective against a person without knowledge of the restriction unless:

　　(1) the security is certificated and the restriction is noted conspicuously on the security certificate; or

　　(2) the security is uncertificated and the registered owner has been notified of the restriction.

　　发行人对证券转让的限制，即使其他方面合法，对于不知道该限制的人无效，除非：

　　(1) 该证券是证书证券并且该限制在证券证书上醒目地注明;或

　　(2) 该证券是非证书证券并且登记的所有人已经得到该限制的通知。

　　§ 8-205. EFFECT OF UNAUTHORIZED SIGNATURE ON SECURITY CERTIFICATE.

　　证券证书上未授权的签名的效力.

　　An unauthorized signature placed on a security certificate before or in the course of issue is ineffective, but the signature is effective in favor of a purchaser for value of the certificated security if the purchaser is without notice of the lack of authority and the signing has been done by:

　　(1) an authenticating trustee, registrar, transfer agent, or other person entrusted by the issuer with the signing of the security certificate or of similar security certificates, or the immediate preparation for signing of any of them; or

　　(2) an employee of the issuer, or of any of the persons listed in paragraph (1), entrusted with responsible handling of the security certificate.

　　在发行前或发行过程中放置在证券证书上的未授权的签名无效，但该签名为证书证券的有偿购买人的利益有效，若该购买人没有得到缺乏授权的通知并且该前面已经由下列人作出：

　　(1) 鉴别受让人、登记官员、转让代理人或发行人授权的其他人，即签署证券证书或类似证券证书，或上述任何证书的签署直接准备的人;或

　　(2) 发行人的雇员或(1)段列举的人的任何雇员，受托持有证券证书并承担责任。

　　§ 8-206. COMPLETION OR ALTERATION OF SECURITY CERTIFICATE.

　　证券证书的完成或涂改.

　　(a) If a security certificate contains the signatures necessary to its issue or transfer but is incomplete in any other respect:

　　(1) any person may complete it by filling in the blanks as authorized; and

　　(2) even if the blanks are incorrectly filled in, the security certificate as completed is enforceable by a purchaser who took it for value and without notice of the incorrectness.

　　(b) A complete security certificate that has been improperly altered, even if fraudulently, remains enforceable, but only according to its original terms.

　　(a) 若证券证书包含发行或转让需要的签名，但在任何其他方面不完全：

　　(1) 任何人可以按照授权在其空白处填写而完成之;及

　　(2) 即使空白栏被不正确地填写，完成后的证券证书，购买人有偿取得并没有得到关于该不正确之处的通知的，仍然具有强制执行效力。

　　(b) 不当涂改过的完全的证券证书，即使欺诈性，保持具有强制执行效力，但是仅根据其原条款。

　　§ 8-207. RIGHTS AND DUTIES OF ISSUER WITH RESPECT TO REGISTERED OWNERS.发行人关于登记所有者的权利和义务.

　　(a) Before due presentment for registration of transfer of a certificated security in registered form or of an instruction requesting registration of transfer of an uncertificated security, the issuer or indenture trustee may treat the registered owner as the person exclusively entitled to vote, receive notifications, and otherwise exercise all the rights and powers of an owner.

　　(b) This Article does not affect the liability of the registered owner of a security for a call, assessment, or the like.

　　(a) 记名形式的证书证券的转让登记或要求非证书证券的转让登记的指示的到期提示之前，发行人或契约受托人可以视登记的所有人为这样一个人：他享有排他的权利表决、收取通知以及以其他方式行使所有者的所有权利和权力。

　　(b) 本篇不影响证券的登记的所有人对叫牌、估价、或类似的责任。

　　§ 8-208. EFFECT OF SIGNATURE OF AUTHENTICATING TRUSTEE, REGISTRAR, OR TRANSFER AGENT.

　　认证受托人、登记员、或转让代理人签名的效力.

　　(a) A person signing a security certificate as authenticating trustee, registrar, transfer agent, or the like, warrants to a purchaser for value of the certificated security, if the purchaser is without notice of a particular defect, that:

　　(1) the certificate is genuine;

　　(2) the person's own participation in the issue of the security is within the person's capacity and within the scope of the authority received by the person from the issuer; and

　　(3) the person has reasonable grounds to believe that the certificated security is in the form and within the amount the issuer is authorized to issue.

　　(b) Unless otherwise agreed, a person signing under subsection (a) does not assume responsibility for the validity of the security in other respects.

　　(a) 作为认证受托人、登记员、转让代理人、或类似的人签署证券证书的，向证书证券的有偿购买人担保，若购买人没有得到特点缺陷的通知：

　　(1) 该证书真实;

　　(2) 此人对该证券发行的参与，是在其行为能力范围内，并且在此人从发行人得到授权的范围内;及

　　(3) 此人有合理的根据相信该证书证券是以发行人被授权发行的形式和金额内。

　　(b) 除非另有约定，在(a)款下签署的人不对该证券在其他方面的效力负责。

　　§ 8-209. ISSUER'S LIEN. 发行人的留置权.

　　A lien in favor of an issuer upon a certificated security is valid against a purchaser only if the right of the issuer to the lien is noted conspicuously on the security certificate.

　　发行人在证书证券上的留置权有效对抗购买人，仅当发行人对该留置权的权力醒目地在该证券证书上注明。

　　§ 8-210. OVERISSUE. 溢价发行.

　　(a) In this section, "overissue" means the issue of securities in excess of the amount the issuer has corporate power to issue, but an overissue does not occur if appropriate action has cured the overissue.

　　(b) Except as otherwise provided in subsections (c) and (d), the provisions of this Article which validate a security or compel its issue or reissue do not apply to the extent that validation, issue, or reissue would result in overissue.

　　(c) If an identical security not constituting an overissue is reasonably available for purchase, a person entitled to issue or validation may compel the issuer to purchase the security and deliver it if certificated or register its transfer if uncertificated, against surrender of any security certificate the person holds.

　　(d) If a security is not reasonably available for purchase, a person entitled to issue or validation may recover from the issuer the price the person or the last purchaser for value paid for it with interest from the date of the person's demand.

　　(a) 在本条中， "溢价发行" 指证券的发行超过发行人有法人权力发行的金额，但溢价发行不发生若适当的行为已经纠正该溢价发行。

　　(b) 除非(c)和(d)款另有规定，本篇的规定使证券生效或迫使其发行或再发行的，不适用于该确认、发行、或再发行将导致溢价发行的范围。

　　(c) 若不构成溢价发行的等额证券只要购买就可合理获得，具有发行、确认资格的人可以迫使该发行人购买该证券，以及，在证书证券的情形交付证券，在非证书证券的情形登记其转让，对于此人持有的任何证券证书的交出。

　　(d) 若证券不是购买即可合理获得，有权发行或确认的人可以向发行人追回此人或最后的有偿购买人为之支付的价格，以及从此人要求之日起的利息。

　　PART 3. TRANSFER OF CERTIFICATED AND UNCERTIFICATED SECURITIES [Table of Contents] 证书证券和非证书证券的转让

　　§ 8-301. DELIVERY. 交付.

　　(a) Delivery of a certificated security to a purchaser occurs when:

　　(1) the purchaser acquires possession of the security certificate;

　　(2) another person, other than a securities intermediary, either acquires possession of the security certificate on behalf of the purchaser or, having previously acquired possession of the certificate, acknowledges that it holds for the purchaser; or

　　(3) a securities intermediary acting on behalf of the purchaser acquires possession of the security certificate, only if the 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 indorsed to the purchaser by an effective indorsement and has not been indorsed to the securities intermediary or in blank.

　　(a) 证书证券对购买人的交付发生于：

　　(1) 购买人获得证券证书的占有时;

　　(2) 其他人，证券中介除外，或者代表购买人获得证券证书的占有，或者，以前已经获得该证书的占有的，知道其为购买人持有时;或

　　(3) 代理购买人的证券中介获得证券证书的占有，仅当该证书是记名形式的，并且(i)以购买人的名义登记，(ii) 应付给购买人的指令，或(iii)通过有效背书特别背书给购买人并且没有背书给证券中介或空白背书。

　　(b) Delivery of an uncertificated security to a purchaser occurs when:

　　(1) the issuer registers the purchaser as the registered owner, upon original issue or registration of transfer; or

　　(2) another person, other than a securities intermediary, either becomes the registered owner of the uncertificated security on behalf of the purchaser or, having previously become the registered owner, acknowledges that it holds for the purchaser.

　　(b) 非证书证券对购买人的交付发生于：

　　(1) 发行人登记购买人作为登记的所有人，在原发行或转让登记;或

　　(2) 其他人，证券中介除外，或者代表购买人成为非证书证券的登记的所有人，或者以前已经成为登记的所有人，承认其为购买人持有。

　　§ 8-302. RIGHTS OF PURCHASER. .购买人权利.

　　(a) Except as otherwise provided in subsections (b) and (c), a purchaser of a certificated or uncertificated security acquires all rights in the security that the transferor had or had power to transfer.

　　(b) A purchaser of a limited interest acquires rights only to the extent of the interest purchased.

　　(c) A purchaser of a certificated security who as a previous holder had notice of an adverse claim does not improve its position by taking from a protected purchaser.

　　(a) 除非(b)和(c)款另有规定，证书证券或非证书证券购买人获得该证券上出让人享有或有权转让的所有权利。

　　(b) 有限权益购买人获得权利仅限于购买的权益范围。

　　(c) 证书证券购买人作为以前的持有人获得不利主张通知的，不因从受保障的购买人取得而改进其地位。

　　§ 8-303. PROTECTED PURCHASER. 受保障的购买人.

　　(a) "Protected purchaser" means a purchaser of a certificated or uncertificated security, or of an interest therein, who:

　　(1) gives value;

　　(2) does not have notice of any adverse claim to the security; and

　　(3) obtains control of the certificated or uncertificated security.

　　(b) In addition to acquiring the rights of a purchaser, a protected purchaser also acquires its interest in the security free of any adverse claim.

　　(a) "受保障的购买人" 指证书证券或非证书证券或其中的权益的购买人，其：

　　(1) 给予对价;

　　(2) 不得到任何对该证券的不利主张通知;及

　　(3) 获得该证书证券或非证书证券的控制。

　　(b) 除了获得购买人的权利外，受保障的购买人也获得该证券中的权益不受任何不利主张的约束。

　　§ 8-304. INDORSEMENT. 背书.

　　(a) An indorsement may be in blank or special. An indorsement in blank includes an indorsement to bearer. A special indorsement specifies to whom a security is to be transferred or who has power to transfer it. A holder may convert a blank indorsement to a special indorsement.

　　(b) An indorsement purporting to be only of part of a security certificate representing units intended by the issuer to be separately transferable is effective to the extent of the indorsement.

　　(c) An indorsement, whether special or in blank, does not constitute a transfer until delivery of the certificate on which it appears or, if the indorsement is on a separate document, until delivery of both the document and the certificate.

　　(d) If a security certificate in registered form has been delivered to a purchaser without a necessary indorsement, the purchaser may become a protected purchaser only when the indorsement is supplied. However, against a transferor, a transfer is complete upon delivery and the purchaser has a specifically enforceable right to have any necessary indorsement supplied.

　　(e) An indorsement of a security certificate in bearer form may give notice of an adverse claim to the certificate, but it does not otherwise affect a right to registration that the holder possesses.

　　(f) Unless otherwise agreed, a person making an indorsement assumes only the obligations provided in Section 8-108 and not an obligation that the security will be honored by the issuer.

　　(a) 背书可以是空白背书或特别背书。空白背书包括不记名背书。特别背书 指定证券应转让给其或其有权转让证券。持有人可以转换空白背书为特别背书。

　　(b) 声称仅为发行人有意表现为数个单位以便可单独转让的证券证书之部分的背书，在该背书范围内有效。

　　(c) 在背书所在的证书交付之前，若该背书是在单独的单据上，该单据和该证书交付之前，无论是空白背书或特别背书都不构成转让。

　　(d) 若记名形式的证券证书已被交付给购买人而没有必要的背书，购买人可以成为受保障的购买人仅当该背书被提供时。但是，对于出让人，转让完成于交付和购买人享有特定可强制执行权利以得到任何必要的背书的提供时。

　　(e) 不记名形式的证券证书的背书可以给予对该证书的不利主张通知，但其他方面其不影响对持有人占有的登记的权利。

　　(f) 除非另有约定，作出背书的人仅承担§ 8-108规定的债务，且非该证券将由发行人兑付的债务。

　　§ 8-305. INSTRUCTION. 指示

　　(a) If an instruction has been originated by an appropriate person but is incomplete in any other respect, any person may complete it as authorized and the issuer may rely on it as completed, even though it has been completed incorrectly.

　　(b) Unless otherwise agreed, a person initiating an instruction assumes only the obligations imposed by Section 8-108 and not an obligation that the security will be honored by the issuer.

　　(a) 若指示已由适当的人发出但在其他方面不完全，任何人可以根据授权完成之，并且，发行人可以信赖其作为完全的，即使其已经被不正确地完成。

　　(b) 除非另有约定，发出指示的人仅承担§ 8-108施加的债务，且非该证券将由发行人兑付的债务。

　　§ 8-306. EFFECT OF GUARANTEEING SIGNATURE, INDORSEMENT, OR INSTRUCTION.

　　担保签名、背书、或指示的效力.

　　(a) A person who guarantees a signature of an indorser of a security certificate warrants that at the time of signing:

　　(1) the signature was genuine;

　　(2) the signer was an appropriate person to indorse, or if the signature is by an agent, the agent had actual authority to act on behalf of the appropriate person; and

　　(3) the signer had legal capacity to sign.

　　(b) A person who guarantees a signature of the originator of an instruction warrants that at the time of signing:

　　(1) the signature was genuine;

　　(2) the signer was an appropriate person to originate the instruction, or if the signature is by an agent, the agent had actual authority to act on behalf of the appropriate person, if the person specified in the instruction as the registered owner was, in fact, the registered owner, as to which fact the signature guarantor does not make a warranty; and

　　(3) the signer had legal capacity to sign.

　　(a) 保证证券证书背书人的签名的人担保，在签名时：

　　(1) 该签名真实;

　　(2) 签名人是签名的适当的人，或者，若代理人签名的，代理人具有代理适当的人的实际授权;及

　　(3) 签名人具有签名的法定资格。

　　(b) 保证指示的发出人的签名的人担保，在签名时：

　　(1) 该签名真实;

　　(2) 签名人是签名的适当的人，或者，若代理人签名的，代理人具有代理适当的人的实际授权，若指示中指定的人作为登记的所有人事实上曾是登记的所有人，关于该事实，签名保证人不作出担保;及

　　(3) 签名人具有签名的法定资格。

　　(c) A person who specially guarantees the signature of an originator of an instruction makes the warranties of a signature guarantor under subsection (b) and also warrants that at the time the instruction is presented to the issuer:

　　(1) the person specified in the instruction as the registered owner of the uncertificated security will be the registered owner; and

　　(2) the transfer of the uncertificated security requested in the instruction will be registered by the issuer free from all liens, security interests, restrictions, and claims other than those specified in the instruction.

　　(d) A guarantor under subsections (a) and (b) or a special guarantor under subsection (c) does not otherwise warrant the rightfulness of the transfer.

　　(e) A person who guarantees an indorsement of a security certificate makes the warranties of a signature guarantor under subsection (a) and also warrants the rightfulness of the transfer in all respects.

　　(c) 特别保证指示的发出人的签名的人作出签名保证人的担保在(b)款下，并向发行人担保，在指示被提出时：

　　(1) 指示中指定的人作为非证书证券的登记的所有人将是登记的所有人;及

　　(2) 指示请求的非证书证券的转让将由发行人登记，并不受所有留置权、担保权益、限制和主张的约束，除指示中指定的以外。

　　(d) (a)和(b)款下的保证人或(c)款下的特定的保证人不在其他方面担保该转让的正当性。

　　(e) 保证证券证书的背书的人作出签名保证人的担保在(a) 款下，并所有其他方面担保该转让的正当性。 (f) 保证指示请求的非证书证券的转让的人作出签名保证人的担保在(c)款下，并所有其他方面担保该转让的正当性。

　　(f) A person who guarantees an instruction requesting the transfer of an uncertificated security makes the warranties of a special signature guarantor under subsection (c) and also warrants the rightfulness of the transfer in all respects.

　　(g) An issuer may not require a special guaranty of signature, a guaranty of indorsement, or a guaranty of instruction as a condition to registration of transfer.

　　(h) The warranties under this section are made to a person taking or dealing with the security in reliance on the guaranty, and the guarantor is liable to the person for loss resulting from their breach. An indorser or originator of an instruction whose signature, indorsement, or instruction has been guaranteed is liable to a guarantor for any loss suffered by the guarantor as a result of breach of the warranties of the guarantor.

　　§ 8-307. PURCHASER'S RIGHT TO REQUISITES FOR REGISTRATION OF TRANSFER. 购买人对转让登记的必要条件的权利.

　　Unless otherwise agreed, the transferor of a security on due demand shall supply the purchaser with proof of authority to transfer or with any other requisite necessary to obtain registration of the transfer of the security, but if the transfer is not for value, a transferor need not comply unless the purchaser pays the necessary expenses. If the transferor fails within a reasonable time to comply with the demand, the purchaser may reject or rescind the transfer.

　　(g) 发行人不得获得签名的特别保证、背书保证或指示保证作为转让登记的条件。

　　(h) 本条下的担保作出给信赖该担保而取得或处理该证券的人，并且担保人应向此人承担其违约所导致的损失的责任。背书人或指示的发出人的签名、背书、或指示已经被担保的，应向作为该保证人的担保的违反的结果，保证人遭受的任何损失负责。

　　除非另有约定，证券出让人一经要求，应当供给购买人授权转让的证据，或任何其他获得该证券的转让登记的必要条件，但若转让不是有偿的，出让人无需遵从除非购买人支付必要的费用。若出让人不在合理的时间内遵从该请求，购买人可以拒绝或废除该转让。

　　PART 4. REGISTRATION [Table of Contents] 登记

　　§ 8-401. DUTY OF ISSUER TO REGISTER TRANSFER. 发行人对登记转让的义务.

　　(a) If a certificated security in registered form is presented to an issuer with a request to register transfer or an instruction is presented to an issuer with a request to register transfer of an uncertificated security, the issuer shall register the transfer as requested if:

　　(1) under the terms of the security the person seeking registration of transfer is eligible to have the security registered in its name;

　　(2) the indorsement or instruction is made by the appropriate person or by an agent who has actual authority to act on behalf of the appropriate person;

　　(3) reasonable assurance is given that the indorsement or instruction is genuine and authorized (Section 8-402);

　　(4) any applicable law relating to the collection of taxes has been complied with;

　　(5) the transfer does not violate any restriction on transfer imposed by the issuer in accordance with Section 8-204;

　　(6) a demand that the issuer not register transfer has not become effective under Section 8-403, or the issuer has complied with Section 8-403(b) but no legal process or indemnity bond is obtained as provided in Section 8-403(d); and

　　(7) the transfer is in fact rightful or is to a protected purchaser.

　　(b) If an issuer is under a duty to register a transfer of a security, the issuer is liable to a person presenting a certificated security or an instruction for registration or to the person's principal for loss resulting from unreasonable delay in registration or failure or refusal to register the transfer.

　　(a) 若记名形式的证书证券被提交给发行人，请求登记转让，或指示被提交给发行人，请求非证书证券的登记转让，发行人应当按照请求登记该转让，若：

　　(1) 在该证券的条款下，寻求转让登记的人符合以其名义登记该证券的条件;

　　(2) 背书或指示由适当的人或具有代理适当的人的实际授权的代理人作出;

　　(3) 合理的保证被给予，即该背书或指示为真实并经授权(§ 8-402);

　　(4) 涉及税收的任何可适用的法律得到遵从;

　　(5) 该转让不违反发行人根据§ 8-204对转让施加的任何限制;

　　(6) 发行人不登记转让的请求已经生效在§ 8-403下，或发行人已经遵从§ 8-403(b)行事但没有法律程序或赔偿契约根据§ 8-403(d)规定获得;及

　　(7) 该转让事实上正当或将给予受保障的购买人。

　　(b) 若发行人有义务登记证券的转让，发行人应向提出证书证券或登记指示的人负责，或对此人的本人就不合理迟延登记或未能或拒绝登记该转让所导致的损失负责。

　　§ 8-402. ASSURANCE THAT INDORSEMENT OR INSTRUCTION IS EFFECTIVE.

　　背书或指示有效的保证.

　　(a) An issuer may require the following assurance that each necessary indorsement or each instruction is genuine and authorized:

　　(1) in all cases, a guaranty of the signature of the person making an indorsement or originating an instruction including, in the case of an instruction, reasonable assurance of identity;

　　(2) if the indorsement is made or the instruction is originated by an agent, appropriate assurance of actual authority to sign;

　　(3) if the indorsement is made or the instruction is originated by a fiduciary pursuant to Section 8-107(a)(4) or (a)(5), appropriate evidence of appointment or incumbency;

　　(4) if there is more than one fiduciary, reasonable assurance that all who are required to sign have done so; and

　　(5) if the indorsement is made or the instruction is originated by a person not covered by another provision of this subsection, assurance appropriate to the case corresponding as nearly as may be to the provisions of this subsection.

　　(a) 发行人可以获得下列保证，每一必要的背书或每一指示真实并经授权：

　　(1) 在所有情形，作出背书或发出指示的人的签名的保证包括，在指示的情形，身份的合理保证;

　　(2) 若代理人背书或发出指示的，实际授权签署的适当保证;

　　(3) 若受托人依照§ 8-107(a)(4)或(a)(5) 背书或发出指示的，委任或职责的适当证据;

　　(4) 若受托人超过一个，关于所有被要求如此签署的受托人已经如此做的合理保证;及

　　(5) 若本款其他规定不包含的人背书或发出指示的，适于本款的规定相应适于该情形的保证。

　　(b) An issuer may elect to require reasonable assurance beyond that specified in this section.

　　(c) In this section:

　　(1) "Guaranty of the signature" means a guaranty signed by or on behalf of a person reasonably believed by the issuer to be responsible. An issuer may adopt standards with respect to responsibility if they are not manifestly unreasonable.

　　(2) "Appropriate evidence of appointment or incumbency" means:

　　(i) in the case of a fiduciary appointed or qualified by a court, a certificate issued by or under the direction or supervision of the court or an officer thereof and dated within 60 days before the date of presentation for transfer; or

　　(ii) in any other case, a copy of a document showing the appointment or a certificate issued by or on behalf of a person reasonably believed by an issuer to be responsible or, in the absence of that document or certificate, other evidence the issuer reasonably considers appropriate.

　　(b) 发行人可以选择获得超过本条的合理的保证。

　　(c) 本条中：

　　(1) "签名的保证" 指发行人合理相信可靠的人签署或代表其利益签署的保证。发行人可以采用关于责任的标准若非明显不合理。

　　(2) "委任或职责的适当证据"指：

　　(i) 在法院指定或限定的受托人情形，证书根据法院或其中的官员的指示或监督发行，转让提示之日前60日内;或

　　(ii) 任何其他情形，单据副本显示该委任的，或者发行人合理相信可靠的人发行或代表其发行的证书的，或者，没有此类单据或证书的，发行人合理认为适当的其他证据。

　　§ 8-403. DEMAND THAT ISSUER NOT REGISTER TRANSFER.

　　发行人不登记转让的要求.

　　(a) A person who is an appropriate person to make an indorsement or originate an instruction may demand that the issuer not register transfer of a security by communicating to the issuer a notification that identifies the registered owner and the issue of which the security is a part and provides an address for communications directed to the person making the demand. The demand is effective only if it is received by the issuer at a time and in a manner affording the issuer reasonable opportunity to act on it.

　　(b) If a certificated security in registered form is presented to an issuer with a request to register transfer or an instruction is presented to an issuer with a request to register transfer of an uncertificated security after a demand that the issuer not register transfer has become effective, the issuer shall promptly communicate to (i) the person who initiated the demand at the address provided in the demand and (ii) the person who presented the security for registration of transfer or initiated the instruction requesting registration of transfer a notification stating that:

　　(a) 作出背书或发出指示的适当的人可以要求发行人不登记证券的转让，通过传输给发行人一份通知，确定登记的所有人和该证券的发行是其一部分并和规定作出该请求的人的通讯地址. 该请求有效，仅当其由发行人以提供发行人合理的机会以按其行为的事件和方式收到。

　　(b) 若记名形式的证书证券被提交给发行人，要求登记转让，或指示被提交给发行人，要求非证书证券的登记转让，发行人不登记转让的请求已经生效之后，对于(i)发出请求的人，按照其在该请求中规定的地址，及(ii)为转让登记而提示证券的人，或发出要求转让登记的指示的人，发行人应当迅捷传输一份通知，规定：

　　(1) the certificated security has been presented for registration of transfer or the instruction for registration of transfer of the uncertificated security has been received;

　　(2) a demand that the issuer not register transfer had previously been received; and

　　(3) the issuer will withhold registration of transfer for a period of time stated in the notification in order to provide the person who initiated the demand an opportunity to obtain legal process or an indemnity bond.

　　(c) The period described in subsection (b)(3) may not exceed 30 days after the date of communication of the notification. A shorter period may be specified by the issuer if it is not manifestly unreasonable.

　　(1) 为转让登记，证书证券已经被提示，或非证书证券的转让登记的指示已被收到;

　　(2) 发行人不登记转让的请求以前已被收到;及

　　(3) 发行人将中止转让登记在该通知中规定的期间，为了给发出该请求的人提供一个机会以获得法律程序或补偿保证。

　　(c) (b)(3)规定的期间不得超过30日在该通知传输日期之后。发行人可以指定一个更短的期间，若其非明显不合理。

　　(d) An issuer is not liable to a person who initiated a demand that the issuer not register transfer for any loss the person suffers as a result of registration of a transfer pursuant to an effective indorsement or instruction if the person who initiated the demand does not, within the time stated in the issuer's communication, either:

　　(1) obtain an appropriate restraining order, injunction, or other process from a court of competent jurisdiction enjoining the issuer from registering the transfer; or

　　(2) file with the issuer an indemnity bond, sufficient in the issuer's judgment to protect the issuer and any transfer agent, registrar, or other agent of the issuer involved from any loss it or they may suffer by refusing to register the transfer.

　　(e) This section does not relieve an issuer from liability for registering transfer pursuant to an indorsement or instruction that was not effective.

　　(d) 发行人不对这样的人承担责任，此人发出一份请求，请求发行人不登记转让因作为依照有效背书或指示的转让之登记的结果，此人遭受的任何损失，若发出该请求的人不在发行人的信息规定的时间之内，或：(1) 从有权管辖地的法院获得适当的限制令、禁令、或其他程序，即禁止发行人登记该转让;或

　　(2) 为发行人登记补偿保证，发行人的判断充分保护发行人和任何转让代理人、登记员、或者，因拒绝登记该转让其可能遭受的任何损失涉及的发行人的其他代理人。

　　(e) 本条不减轻发行人依照无效的背书或指示登记转让而应负的责任。

　　§ 8-404. WRONGFUL REGISTRATION. 不当的登记.

　　(a) Except as otherwise provided in Section 8-406, an issuer is liable for wrongful registration of transfer if the issuer has registered a transfer of a security to a person not entitled to it, and the transfer was registered:

　　(1) pursuant to an ineffective indorsement or instruction;

　　(2) after a demand that the issuer not register transfer became effective under Section 8-403(a) and the issuer did not comply with Section 8-403(b);

　　(3) after the issuer had been served with an injunction, restraining order, or other legal process enjoining it from registering the transfer, issued by a court of competent jurisdiction, and the issuer had a reasonable opportunity to act on the injunction, restraining order, or other legal process; or

　　(a) 除非§ 8-406另有规定，发行人应对不当的转让登记承担责任，若发行人已登记一张证券对无权享有的人的转让，并且该转让被登记：

　　(1) 依照无效的背书或指示;

　　(2) 在关于发行人不登记转让的请求在§ 8-403(a)下生效之后，并且发行人未遵从§ 8-403(b);

　　(3) 在发行人已被送达有权管辖地的法院发布的禁令、限制令、或禁止其登记该转让的其他法定程序之后，并且发行人有合理的机会按照禁令、限制令、或其他法定程序行事;或

　　(4) by an issuer acting in collusion with the wrongdoer.

　　(b) An issuer that is liable for wrongful registration of transfer under subsection (a) on demand shall provide the person entitled to the security with a like certificated or uncertificated security, and any payments or distributions that the person did not receive as a result of the wrongful registration. If an overissue would result, the issuer's liability to provide the person with a like security is governed by Section 8-210.

　　(c) Except as otherwise provided in subsection (a) or in a law relating to the collection of taxes, an issuer is not liable to an owner or other person suffering loss as a result of the registration of a transfer of a security if registration was made pursuant to an effective indorsement or instruction.

　　(4) 由发行人与不当行为人串通。

　　(b) 在(a)款下应为不当的转让登记承担责任的发行人一经请求应当提供给对该证券享有权利的人类似的证书证券或非证书证券，以及，由于不当的登记，此人未收到的任何付款或分配。若溢价发行将产生，发行人提供给此人类似的证券的责任由§ 8-210调整。

　　(c) 除非(a)款或涉及税收的法律另有规定，作为证券转让登记的结果，若登记依照有效的背书或指示作出，发行人不对所有者或其他人遭受的损失承担责任。

　　§ 8-405. REPLACEMENT OF LOST, DESTROYED, OR WRONGFULLY TAKEN SECURITY CERTIFICATE.

　　遗失、毁损或不当取得的证券证书的替代.

　　(a) If an owner of a certificated security, whether in registered or bearer form, claims that the certificate has been lost, destroyed, or wrongfully taken, the issuer shall issue a new certificate if the owner:

　　(1) so requests before the issuer has notice that the certificate has been acquired by a protected purchaser;

　　(2) files with the issuer a sufficient indemnity bond; and

　　(3) satisfies other reasonable requirements imposed by the issuer.

　　(b) If, after the issue of a new security certificate, a protected purchaser of the original certificate presents it for registration of transfer, the issuer shall register the transfer unless an overissue would result. In that case, the issuer's liability is governed by Section 8-210. In addition to any rights on the indemnity bond, an issuer may recover the new certificate from a person to whom it was issued or any person taking under that person, except a protected purchaser.

　　(a) 若证书证券的所有者，无论记名形式还是不记名形式，主张该证书已经遗失、毁损或不当取得的，发行人应当发行新的证书，若该所有者：

　　(1) 如此要求，在发行人得到受保障的购买人已经获得该证书的通知之前;

　　(2) 为发行人登记充分的补偿保证;及

　　(3) 满足发行人施加的其他合理的条件。

　　(b) 在发行新的证券证书之后，若原证书的受保障的购买人为转让登记而提示之，发行人应当登记该转让，除非溢价发行将产生。在该情形，发行人的责任由§ 8-210调整。除了在补偿保证上的任何权利之外，发行人可以从新的证书被发行给的人处取回该新的证书，或从此人处取得该新证书的任何人处，但受保障的购买人除外。

　　§ 8-406. OBLIGATION TO NOTIFY ISSUER OF LOST, DESTROYED, OR WRONGFULLY TAKEN SECURITY CERTIFICATE.

　　通报遗失、毁损或不当取得的证券证书的发行人的义务.

　　If a security certificate has been lost, apparently destroyed, or wrongfully taken, and the owner fails to notify the issuer of that fact within a reasonable time after the owner has notice of it and the issuer registers a transfer of the security before receiving notification, the owner may not assert against the issuer a claim for registering the transfer under Section 8-404 or a claim to a new security certificate under Section 8-405.

　　若证券证书已被遗失、外表毁损，或不当取得，并且所有者未能通报发行人该事实，在该所有者得到通报之后的合理的时间内，并在收到通知之前，发行人登记该证券的转让的，所有者不得对发行人提出在§ 8-404下登记该转让的主张，或对在§ 8-405下的新的证券证书的主张。

　　§ 8-407. AUTHENTICATING TRUSTEE, TRANSFER AGENT, AND REGISTRAR.

　　认证受托人、转让代理人和登记员.

　　A person acting as authenticating trustee, transfer agent, registrar, or other agent for an issuer in the registration of a transfer of its securities, in the issue of new security certificates or uncertificated securities, or in the cancellation of surrendered security certificates has the same obligation to the holder or owner of a certificated or uncertificated security with regard to the particular functions performed as the issuer has in regard to those functions.

　　在其证券的转让登记中，在新证券证书或非证书证券的发行中，或在被交出的证券证书的取消中，为发行人但当认证受托人、转让代理人、登记员、或其他代理人的人，关于发行人已经履行的特殊机能，与证书证券或非证书证券的持有人或所有者有相同的义务关于那些机能。

　　PART 5. SECURITY ENTITLEMENTS [Table of Contents] 证券权利

　　§ 8-501. SECURITIES ACCOUNT; ACQUISITION OF SECURITY ENTITLEMENT FROM SECURITIES INTERMEDIARY.

　　证券帐户;证券权利从证券中介的获得.

　　(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), 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.

　　(a) "证券帐户" 指依照一项协议，融资财产被或可以被记入贷方的帐户，在该协议下，维持该帐户的人承诺对该帐户为其维持的人作为有权行使包含该融资财产的权利。

　　(b) 除非(d)和(e)款另有规定，一个人获得证券权利，若证券中介：

　　(1) 通过帐面记录(book entry)指出融资财产已经被记入贷方到此人的证券帐户;

　　(2) 从此人处收到融资财产或为此人获得融资财产，以及，在任一情形，接受其记入贷方到此人的证券帐户;或

　　(3) 根据其他法律、规章或规则有义务把融资财产 记入贷方到此人的证券帐户。

　　(c) If a condition of subsection (b) 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.

　　(c) 若(b)款的条件被满足，一个人享有证券权利即使证券中介本人不持有该融资财产。

　　(d) 若证券中介为其他人持有融资财产 ，并且该融资财产以其他人的名义登记，应按其他人的指令支付，或被特别背书给其他人，并且，没有被背书给证券中介或空白背书，其他人视为直接持有该融资财产而非享有关于该融资财产的证券权利。

　　(e) 证券的发行不是证券权利的确立。

　　§ 8-502. ASSERTION OF ADVERSE CLAIM AGAINST ENTITLEMENT HOLDER.

　　对权利持有人的不利主张声明.

　　An action based on an adverse claim to a financial asset, whether framed in conversion, replevin, constructive trust, equitable lien, or other theory, may not be asserted against a person who acquires a security entitlement under Section 8-501 for value and without notice of the adverse claim.

　　基于对融资财产的不利主张的诉讼，无论是否在财产转换(conversion)、发还财物、法定信托(constructive trust)、平衡法留置权、或其他理论中设定，不得向有偿地并且没有得到不利主张的通知而获得在§ 8-501下的证券权利的人主张。

　　§ 8-503. PROPERTY INTEREST OF ENTITLEMENT HOLDER IN FINANCIAL ASSET HELD BY SECURITIES INTERMEDIARY.

　　证券中介持有的融资财产中权利持有人的财产权益.

　　(a) To the extent necessary for a securities intermediary to satisfy all security entitlements with respect to a particular financial asset, all interests in that financial asset held by the securities intermediary are held by the securities intermediary for the entitlement holders, are not property of the securities intermediary, and are not subject to claims of creditors of the securities intermediary, except as otherwise provided in Section 8-511.

　　(b) An entitlement holder's property interest with respect to a particular financial asset under subsection (a) is a pro rata property interest in all interests in that financial asset held by the securities intermediary, without regard to the time the entitlement holder acquired the security entitlement or the time the securities intermediary acquired the interest in that financial asset.

　　(c) An entitlement holder's property interest with respect to a particular financial asset under subsection (a) may be enforced against the securities intermediary only by exercise of the entitlement holder's rights under Sections 8-505 through 8-508.

　　(a) 在证券中介清偿关于特定融资财产的所有证券权利为必要的范围内，在证券中介持有的融资财产上的所有权益由证券中介为权利持有人持有，不是证券中介的财产，并且不受证券中介的债权人的主张影响，除非§ 8-511另有规定。

　　(b) 权利持有人关于在(a)款下特定的融资财产的财产权益是在该证券中介持有的融资财产中的全部权益中的成比例的财产权益，不考虑权利持有人获得证券权利的时间，或证券中介获得在该融资财产中的权益的时间。

　　(c) 权利持有人关于在(a)款下特定的融资财产的财产权益，仅通过权利持有人在§ 8-505至8-508下的权利的行使，可以向证券中介执行。

　　(d) An entitlement holder's property interest with respect to a particular financial asset under subsection (a) may be enforced against a purchaser of the financial asset or interest therein only if:

　　(1) insolvency proceedings have been initiated by or against the securities intermediary;

　　(2) the securities intermediary does not have sufficient interests in the financial asset to satisfy the security entitlements of all of its entitlement holders to that financial asset;

　　(3) the securities intermediary violated its obligations under Section 8-504 by transferring the financial asset or interest therein to the purchaser; and

　　(4) the purchaser is not protected under subsection (e).

　　The trustee or other liquidator, acting on behalf of all entitlement holders having security entitlements with respect to a particular financial asset, may recover the financial asset, or interest therein, from the purchaser. If the trustee or other liquidator elects not to pursue that right, an entitlement holder whose security entitlement remains unsatisfied has the right to recover its interest in the financial asset from the purchaser.

　　(e) An action based on the entitlement holder's property interest with respect to a particular financial asset under subsection (a), whether framed in conversion, replevin, constructive trust, equitable lien, or other theory, may not be asserted against any purchaser of a financial asset or interest therein who gives value, obtains control, and does not act in collusion with the securities intermediary in violating the securities intermediary's obligations under Section 8-504.

　　(d) 权利持有人关于在(a)款下特定的融资财产的财产权益，可以向融资财产或其中的权益的购买人执行，仅当：

　　(1) 破产程序已经被由证券中介发起或对其发起;

　　(2) 证券中介不具有充分的权益在该融资财产中以清偿所有其权利持有人对该融资财产的证券权利;

　　(3)通过转让融资财产或其中的权益给购买人，证券中介违反其在§ 8-504下的义务;及

　　(4) 购买人不受保护在(e)款下。

　　受托人或其他清算人，代理享有关于特定的融资财产的证券权利的所有权利持有人行事的，可以向购买人取回融资财产或其中的权益。若受托人或其他清算人选择不去追寻该权利， 证券权利 未得到满足的权利持有人有权向购买人取回其在融资财产中的权益。

　　(e) 基于权利持有人关于在(a)款下特定的融资财产的财产权益的诉讼，无论是否在财产转换、发还财物、法定信托、平衡法留置权、或其他理论中设定，不得向融资财产或其中的权益的任何购买人主张，若该购买人给予对价、获得控制，并不与证券中介串通违反该证券中介的在§ 8-504下的义务。

　　§ 8-504. DUTY OF SECURITIES INTERMEDIARY TO MAINTAIN FINANCIAL ASSET.

　　证券中介维持融资财产的义务.

　　(a) A securities intermediary shall promptly obtain and thereafter maintain a financial asset in a quantity corresponding to the aggregate of all security entitlements it has established in favor of its entitlement holders with respect to that financial asset. The securities intermediary may maintain those financial assets directly or through one or more other securities intermediaries.

　　(b) Except to the extent otherwise agreed by its entitlement holder, a securities intermediary may not grant any security interests in a financial asset it is obligated to maintain pursuant to subsection (a).

　　(c) A securities intermediary satisfies the duty in subsection (a) if:

　　(1) the securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or

　　(2) in the absence of agreement, the securities intermediary exercises due care in accordance with reasonable commercial standards to obtain and maintain the financial asset.

　　(d) This section does not apply to a clearing corporation that is itself the obligor of an option or similar obligation to which its entitlement holders have security entitlements.

　　(a) 证券中介应当迅捷地获得并随后保持融资财产在数量上与有利于其权利持有人其已经证明的关于该融资财产的所有证券权利的合计相一致。证券中介可以直接或通过一个或更多其他证券中介，保持那些融资财产。

　　(b) 除由其权利持有人另有约定的范围外，证券中介不得承认依照(a)款，其有义务保持的融资财产中的任何证券权益。

　　(c) 证券中介符合(a)款规定的义务，若：

　　(1) 关于该义务，证券中介按照权利持有人和证券中介的约定行事;或

　　(2) 没有约定的，证券中介行使依照合理的商业标准应尽的关心以获得并保持该融资财产。

　　(d) 本条不适用于代理商品交易公司，若其本身是选择权或其权利持有人对其享有证券权利的类似义务的义务人。

　　§ 8-505. DUTY OF SECURITIES INTERMEDIARY WITH RESPECT TO PAYMENTS AND DISTRIBUTIONS.

　　证券中介关于付款和分配的义务.

　　(a) A securities intermediary shall take action to obtain a payment or distribution made by the issuer of a financial asset. A securities intermediary satisfies the duty if:

　　(1) the securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or

　　(2) in the absence of agreement, the securities intermediary exercises due care in accordance with reasonable commercial standards to attempt to obtain the payment or distribution.

　　(b) A securities intermediary is obligated to its entitlement holder for a payment or distribution made by the issuer of a financial asset if the payment or distribution is received by the securities intermediary.

　　(a) 证券中介应当提起诉讼以获得融资财产的发行人作出的付款或分配。证券中介符合该义务，若：

　　(1) 关于该义务，证券中介按照权利持有人和证券中介的约定行事;或

　　(2) 没有约定的，证券中介行使依照合理的商业标准应尽的关心以尝试获得该付款或分配。

　　(b) 关于融资财产的发行人作出的付款或分配，证券中介对其权利持有人负有责任，若证券中介收到该付款或分配。

　　§ 8-506. DUTY OF SECURITIES INTERMEDIARY TO EXERCISE RIGHTS AS DIRECTED BY ENTITLEMENT HOLDER.

　　证券中介按照权利持有人指示行使权利的义务.

　　A securities intermediary shall exercise rights with respect to a financial asset if directed to do so by an entitlement holder. A securities intermediary satisfies the duty if:

　　(1) the securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or

　　(2) in the absence of agreement, the securities intermediary either places the entitlement holder in a position to exercise the rights directly or exercises due care in accordance with reasonable commercial standards to follow the direction of the entitlement holder.

　　若权利持有人指示，证券中介应当行使关于融资财产的权利。证券中介符合该义务，若：

　　(1) 关于该义务，证券中介按照权利持有人和证券中介的约定行事;或

　　(2) 没有约定的，证券中介或者放置权利持有人在直接行使该权利的位置，或行使依照合理的商业标准应尽的关心以遵从该权利持有人的指示。

　　§ 8-507. DUTY OF SECURITIES INTERMEDIARY TO COMPLY WITH ENTITLEMENT ORDER.

　　证券中介遵照权益指令的义务.

　　(a) A securities intermediary shall comply with an entitlement order if the entitlement order is originated by the appropriate person, the securities intermediary has had reasonable opportunity to assure itself that the entitlement order is genuine and authorized, and the securities intermediary has had reasonable opportunity to comply with the entitlement order. A securities intermediary satisfies the duty if:

　　(1) the securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or

　　(2) in the absence of agreement, the securities intermediary exercises due care in accordance with reasonable commercial standards to comply with the entitlement order.

　　(b) If a securities intermediary transfers a financial asset pursuant to an ineffective entitlement order, the securities intermediary shall reestablish a security entitlement in favor of the person entitled to it, and pay or credit any payments or distributions that the person did not receive as a result of the wrongful transfer. If the securities intermediary does not reestablish a security entitlement, the securities intermediary is liable to the entitlement holder for damages.

　　(a) 证券中介应当遵从权益指令若该权益指令由适当的人发出，证券中介已有合理的机会使其自己确信该权益指令为真实并经授权，并且证券中介已有有合理的机会遵照该权益指令。证券中介符合该义务，若：(1) 关于该义务，证券中介按照权利持有人和证券中介的约定行事;或

　　(2) 没有协议的，证券中介尽应当的关心遵照合理的商业标准遵从该权益指令。

　　(b) 若证券中介依照无效的权益指令转让融资财产，证券中介应当为对其享有权利的人的利益重建(reestablish)证券权利，并支付或赊欠此人由于该不当转让而未收到的任何付款或分配。若证券中介不重建证券权利，该证券中介应对权利持有人负损害赔偿责任。

　　§ 8-508. DUTY OF SECURITIES INTERMEDIARY TO CHANGE ENTITLEMENT HOLDER'S POSITION TO OTHER FORM OF SECURITY HOLDING.

　　证券中介改变权利持有人的地位为证券持有的其他形式的义务.

　　A securities intermediary shall act at the direction of an entitlement holder to change a security entitlement into another available form of holding for which the entitlement holder is eligible, or to cause the financial asset to be transferred to a securities account of the entitlement holder with another securities intermediary. A securities intermediary satisfies the duty if:

　　(1) the securities intermediary acts as agreed upon by the entitlement holder and the securities intermediary; or

　　(2) in the absence of agreement, the securities intermediary exercises due care in accordance with reasonable commercial standards to follow the direction of the entitlement holder.

　　证券中介应当根据权利持有人的指示，改变证券权利为权利持有人符合条件的其他可获得的持有形式，或促使该融资财产被转让给权利持有人在其他证券中介的证券帐户。证券中介符合该义务，若：

　　(1) 关于该义务，证券中介按照权利持有人和证券中介的约定行事;或

　　(2) 没有协议的，证券中介尽应当的关心遵照合理的商业标准遵从权利持有人的指示。

　　§ 8-509. SPECIFICATION OF DUTIES OF SECURITIES INTERMEDIARY BY OTHER STATUTE OR REGULATION; MANNER OF PERFORMANCE OF DUTIES OF SECURITIES INTERMEDIARY AND EXERCISE OF RIGHTS OF ENTITLEMENT HOLDER.

　　其他法令或规章对证券中介的义务的规范;证券中介义务的履行方式和权利持有人权利的行使.

　　(a) If the substance of a duty imposed upon a securities intermediary by Sections 8-504 through 8-508 is the subject of other statute, regulation, or rule, compliance with that statute, regulation, or rule satisfies the duty.

　　(b) To the extent that specific standards for the performance of the duties of a securities intermediary or the exercise of the rights of an entitlement holder are not specified by other statute, regulation, or rule or by agreement between the securities intermediary and entitlement holder, the securities intermediary shall perform its duties and the entitlement holder shall exercise its rights in a commercially reasonable manner.

　　(c) The obligation of a securities intermediary to perform the duties imposed by Sections 8-504 through 8-508 is subject to:

　　(1) rights of the securities intermediary arising out of a security interest under a security agreement with the entitlement holder or otherwise; and

　　(2) rights of the securities intermediary under other law, regulation, rule, or agreement to withhold performance of its duties as a result of unfulfilled obligations of the entitlement holder to the securities intermediary.

　　(d) Sections 8-504 through 8-508 do not require a securities intermediary to take any action that is prohibited by other statute, regulation, or rule.

　　(a) 若§s 8-504至8-508 施加给证券中介的义务的实质是其他法令、规章、或规则的标的，遵照该法令、规章、或规则的，符合该义务。

　　(b) 在证券中介的义务的履行或权利持有人的权利的行使的特定标准不被其他法令、规章、或规则或证券中介和权利持有人之间的协议规定的范围内，证券中介履行其义务及权利持有人行使其权利应当以商业上合理的方式。

　　(c) 证券中介履行§ 8-504到 8-508施加的义务的义务受下述影响：

　　(1) 产生于与权利持有人或其他人的担保协议下的担保权益的证券中介的权利;及

　　(2) 作为权利持有人对证券中介的无法履行的义务的结果，证券中介在其他法令、规章、规则，或协议下的停止履行其义务的权利;

　　(d) § 8-504 到8-508 不要求证券中介提起其他法令、规章、或规则禁止的任何诉讼。

　　§ 8-510. RIGHTS OF PURCHASER OF SECURITY ENTITLEMENT FROM ENTITLEMENT HOLDER.

　　权利持有人的证券权利的购买人的权利.

　　(a) In a case not covered by the priority rules in Article 9 or the rules stated in subsection (c), an action based on an adverse claim to a financial asset or security entitlement, whether framed in conversion, replevin, constructive trust, equitable lien, or other theory, may not be asserted against a person who purchases a security entitlement, or an interest therein, from an entitlement holder if the purchaser gives value, does not have notice of the adverse claim, and obtains control.

　　(a) 在第9篇的优先性规则或(c)款规定的规则不包含的情形，基于对融资财产或证券权利的不利主张的诉讼，无论是否在财产转换、发还财物、法定信托、平衡法留置权、或其他理论中设定，不得向从权利持有人处购买证券权利或其中的权益的人主张，若购买人给予对价，没有得到不利主张的通知，并获得控制。

　　(b) If an adverse claim could not have been asserted against an entitlement holder under Section 8-502, the adverse claim cannot be asserted against a person who purchases a security entitlement, or an interest therein, from the entitlement holder.

　　(c) In a case not covered by the priority rules in Article 9, a purchaser for value of a security entitlement, or an interest therein, who obtains control has priority over a purchaser of a security entitlement, or an interest therein, who does not obtain control. Except as otherwise provided in subsection (d), purchasers who have control rank according to priority in time of:

　　(1) the purchaser's becoming the person for whom the securities account, in which the security entitlement is carried, is maintained, if the purchaser obtained control under Section 8-106(d)(1);

　　(2) the securities intermediary's agreement to comply with the purchaser's entitlement orders with respect to security entitlements carried or to be carried in the securities account in which the security entitlement is carried, if the purchaser obtained control under Section 8-106(d)(2); or

　　(3) if the purchaser obtained control through another person under Section 8-106(d)(3), the time on which priority would be based under this subsection if the other person were the secured party.

　　(d) A securities intermediary as purchaser has priority over a conflicting purchaser who has control unless otherwise agreed by the securities intermediary.

　　(b) 若不利主张不可能已经向在§ 8-502下的权利持有人主张，该不利主张不得向从权利持有人处购买证券权利或其中的权益的人主张。

　　(c) 在第9篇的优先性规则不包含的情形，有偿获得证券权利或其权益的购买人获得控制优先于没有获得控制的证券权利或其权益的购买人。除非(d)款另有规定，购买人具有控制的，按下列时间排列优先次序：(1) 购买人成为承载证券权利的证券帐户为其维持的人，若购买人获得在§ 8-106(d)(1)下的控制;

　　(2)关于承载证券权利的证券帐户承载或将承载的证券权利，证券中介同意遵从购买人的权益指令，若购买人获得在§ 8-106(d)(2)下的控制;或

　　(3) 若购买人通过在§ 8-106(d)(3)下的其他人获得控制，优先权将在本款下建立的时间，若其他人是被担保的当事人。

　　(d) 作为购买人的证券中介具有优先于具有控制的冲突性的购买人的权利，除非证券中介另有约定。

　　§ 8-511. PRIORITY AMONG SECURITY INTERESTS AND ENTITLEMENT HOLDERS.

　　在担保权益和权利持有人之中的优先性

　　(a) Except as otherwise provided in subsections (b) and (c), if a securities intermediary does not have sufficient interests in a particular financial asset to satisfy both its obligations to entitlement holders who have security entitlements to that financial asset and its obligation to a creditor of the securities intermediary who has a security interest in that financial asset, the claims of entitlement holders, other than the creditor, have priority over the claim of the creditor.

　　(b) A claim of a creditor of a securities intermediary who has a security interest in a financial asset held by a securities intermediary has priority over claims of the securities intermediary's entitlement holders who have security entitlements with respect to that financial asset if the creditor has control over the financial asset.

　　(c) If a clearing corporation does not have sufficient financial assets to satisfy both its obligations to entitlement holders who have security entitlements with respect to a financial asset and its obligation to a creditor of the clearing corporation who has a security interest in that financial asset, the claim of the creditor has priority over the claims of entitlement holders.

　　(a) 除非(b)和(c)款另有规定，若证券中介在特定的融资财产上没有充分的权益以清偿其对该融资财产享有证券权利的权利持有人的义务，及其对在该融资财产享有担保权益的证券中介的债权人的义务，除债权人之外的权利持有人的主张，优先于债权人.的主张。

　　(b) 在证券中介持有的融资财产中享有担保权益的证券中介债权人的主张优先于关于该融资财产享有证券权利的证券中介的权利持有人的主张，若债权人具有对融资财产的控制。

　　(c) 若代理商品交易公司没有充分的融资财产清偿对享有关于融资财产的证券权利的权利持有人的债务和其对于在融资财产上享有担保权益的代理商品交易公司的债权人的义务，债权人的主张优先于权利持有人s的主张。

　　PART 6. TRANSITION PROVISIONS FOR REVISED ARTICLE 8 AND CONFORMING AMENDMENTS TO ARTICLES 1, 4, 5, 9, AND 10 [Table of Contents]

　　协调修正版第8篇及第1、4、5、9、及10篇的过渡条款

　　§ 8-601. EFFECTIVE DATE. 生效日期.

　　This [Act] takes effect . 本[法案] 生效于 ... .

　　§ 8-602. REPEALS. 废止.

　　This [Act] repeals . 本[法案]废止 ... .

　　§ 8-603. SAVINGS CLAUSE. 保留条款.

　　(a) This [Act] does not affect an action or proceeding commenced before this [Act] takes effect.

　　(b) If a security interest in a security is perfected at the date this [Act] takes effect, and the action by which the security interest was perfected would suffice to perfect a security interest under this [Act], no further action is required to continue perfection. If a security interest in a security is perfected at the date this [Act] takes effect but the action by which the security interest was perfected would not suffice to perfect a security interest under this [Act], the security interest remains perfected for a period of four months after the effective date and continues perfected thereafter if appropriate action to perfect under this [Act] is taken within that period. If a security interest is perfected at the date this [Act] takes effect and the security interest can be perfected by filing under this [Act], a financing statement signed by the secured party instead of the debtor may be filed within that period to continue perfection or thereafter to perfect.

　　(a) 本[法案]不影响在本[法案]生效以前提起的诉讼或程序。

　　(b) 若在证券上的担保权益在本[法案]生效之日完善，并且，使担保权益完善的诉讼足以完善在本[法案]下的担保权益，没有更进一步的诉讼被要求去继续完善。若 在证券上的担保权益在本[法案]生效之日完善，但是，使担保权益完善的诉讼不足以完善在本[法案]下的担保权益，担保权益在该生效日期之后4个月的期间保 持完善性，并在其后继续完善性，若在本[法案]下适于完善的诉讼在该期间提起。若担保权益在本[法案]生效之日完善，并且，担保权益可以通过在本[法案] 下的登记完善，担保权人代替债务人签署的融资申明书可在该期间登记以继续其完善性或其后完善。