Louisiana Statutes
§ 10:8-116 — Securities intermediary as purchaser for value
Louisiana·Title 10 Commercial Laws
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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Louisiana § 10:8-116 (Securities intermediary as purchaser for value) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Acts 1995, No. 884, §1, eff. Jan. 1, 1996.
Nearby Sections
15
§ 10:8-101
§ 10:8-101§ 10:8-102
Definitions and index of definitions§ 10:8-105
Notice of adverse claim§ 10:8-106
Control§ 10:8-108
Warranties in direct holding§ 10:8-109
Warranties in indirect holding§ 10:8-110
Applicability; choice of law§ 10:8-111
Clearing corporation rules§ 10:8-112
Creditor's legal process§ 10:8-113
Statute of frauds inapplicable