Sec. 42a-8-116. Securities intermediary as purchaser.
Sec. 42a-8-116. Securities intermediary as purchaser. 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.
(P.A. 97-182, S. 16.)