North Dakota § 41-08-16 (8-116) Securities intermediary as purchaser for value

North Dakota Statutes

§ 41-08-16 — (8-116) Securities intermediary as purchaser for value

North Dakota § 41-08-16

Title 41Uniform Commercial Code

Ch. 41-08Investment Securities

This text of North Dakota § 41-08-16 ((8-116) Securities intermediary as purchaser for value) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 41-08-16 (2026).

Text

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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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.