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Uniform Commercial Code | |
Uniform Commercial Code - Investment Securities | |
Section 115 | Securities intermediary as purchaser for value. |
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70A-8-115. 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.
Enacted by Chapter 204, 1996 General Session |
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