§490:8-116 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. [L 1997, c 33, pt of §2]
Section: Previous 490-8-109 490-8-110 490-8-111 490-8-112 490-8-113 490-8-114 490-8-115 490-8-116 490-8-201 490-8-202 490-8-203 490-8-204 490-8-205 490-8-206 490-8-207 NextLast modified: October 27, 2016