2001 Minnesota Statutes

     336.8-116 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. 

    HIST: 1995 c 194 art 1 s 16