678.1161 Securities intermediary as purchaser for value.—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.
History.—s. 1, ch. 98-11.
Section: Previous 678.1041 678.1051 678.1061 678.1071 678.1081 678.1091 678.1101 678.1111 678.1121 678.1131 678.1141 678.1151 678.1161 678.1171 NextLast modified: September 23, 2016