Pennsylvania § 8116 Securities intermediary as purchaser for value

Pennsylvania Statutes

§ 8116 — Securities intermediary as purchaser for value

Pennsylvania·Title 13 COMMERCIAL CODE·Ch. 81 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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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.

Pennsylvania § 8116 (Securities intermediary as purchaser for value) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.