TITLE 6A
Uniform Commercial Code

CHAPTER 6A-8
Investment Securities

PART 6A-8-101
Short Title and General Matters

SECTION 6A-8-116


§ 6A-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.

History of Section.
(P.L. 2000, ch. 182, § 5; P.L. 2000, ch. 420, § 5.)