Statutes > New Mexico Statutes > Chapter 55 - Uniform Commercial Code. > Article 8 - Investment Securities, 55-8-101 through 55-8-511. > Section 55-8-116 - Securities intermediary as purchaser for value.

Section 55-8-116 - Securities intermediary as purchaser for value.

55-8-116. 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.