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·Title 41 Uniform Commercial Code·Ch. 41-08 Investment Securities

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.

North Dakota § 41-08-16 ((8-116) Securities intermediary as purchaser for value) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.