California Statutes
§ 8116. — 8116. (Added by Stats. 1996, Ch. 497, Sec. 9.)
California·Code COM Commercial Code - COM·Div. 8. DIVISION 8. INVESTMENT SECURITIES·Ch. 1. CHAPTER 1. Short Title and General Matters
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.
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California § 8116. (8116. (Added by Stats. 1996, Ch. 497, Sec. 9.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 1996, Ch. 497, Sec. 9. Effective January 1, 1997.