§ 8.8A-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.
(1996, c. 216.)
Sections: Previous 8.8A-102 8.8A-103 8.8A-104 8.8A-105 8.8A-106 8.8A-107 8.8A-108 8.8A-109 8.8A-110 8.8A-111 8.8A-112 8.8A-113 8.8A-114 8.8A-115 8.8A-116Last modified: April 3, 2009