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Chapter 336
Section 336.8-116
Topics
Recent History
- 1995 336.8-116 New 1995 c 194 art 1 s 16
This is an historical version of this statute chapter. Also view the most recent published version.
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.
History: 1995 c 194 art 1 s 16
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: 1995 c 194 art 1 s 16
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Revisor of Statutes