West Virginia § 46-8-116 Securities intermediary as purchaser for value

West Virginia Statutes

§ 46-8-116 — Securities intermediary as purchaser for value

West Virginia·Ch. 46 UNIFORM COMMERCIAL CODE·Art. 8 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.

West Virginia § 46-8-116 (Securities intermediary as purchaser for value) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.