New York § 8-116 Securities Intermediary as Purchaser for Value

New York Statutes

§ 8-116 — Securities Intermediary as Purchaser for Value

New York § 8-116

Law UCCUniform Commercial Code

Part 1Short Title and General Matters

Art. 8Investment Securities

This text of New York § 8-116 (Securities Intermediary as Purchaser for Value) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Uniform Commercial Code § 8-116 (2026).

Text

Section 8--116. Securities Intermediary as Purchaser for Value.\n  A securities intermediary that receives a financial asset and\nestablishes a security entitlement to the financial asset in favor of an\nentitlement holder is a purchaser for value of the financial asset. A\nsecurities intermediary that acquires a security entitlement to a\nfinancial asset from another securities intermediary acquires the\nsecurity entitlement for value if the securities intermediary acquiring\nthe security entitlement establishes a security entitlement to the\nfinancial asset in favor of an entitlement holder.\n

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Section 8--116. Securities Intermediary as Purchaser for Value.\n A securities intermediary that receives a financial asset and\nestablishes a security entitlement to the financial asset in favor of an\nentitlement holder is a purchaser for value of the financial asset. A\nsecurities intermediary that acquires a security entitlement to a\nfinancial asset from another securities intermediary acquires the\nsecurity entitlement for value if the securities intermediary acquiring\nthe security entitlement establishes a security entitlement to the\nfinancial asset in favor of an entitlement holder.\n