South Carolina Statutes
§ 36-8-116 — Securities intermediary as purchaser for value.
South Carolina § 36-8-116
This text of South Carolina § 36-8-116 (Securities intermediary as purchaser for value.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
S.C. Code Ann. § 36-8-116 (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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Legislative History
HISTORY: 2001 Act No. 67, SECTION 5. Part 2 Issue and Issuer
Nearby Sections
15
§ 36-8-101
Short title.§ 36-8-102
Definitions.§ 36-8-103
Rules for determining whether certain obligations and interests are securities or financial assets.§ 36-8-105
Notice of adverse claim.§ 36-8-106
Control.§ 36-8-108
Warranties in direct holding.§ 36-8-109
Warranties in indirect holding.§ 36-8-110
Applicability; choice of law.§ 36-8-111
Clearing corporation rules.§ 36-8-112
Creditor's legal process.§ 36-8-113
Statute of frauds inapplicable.Cite This Page — Counsel Stack
Bluebook (online)
South Carolina § 36-8-116, Counsel Stack Legal Research, https://law.counselstack.com/statute/sc/8/36-8-116.