2013 Maine Revised Statutes
TITLE 11: UNIFORM COMMERCIAL CODE
Article 8-A: INVESTMENT SECURITIES
11 §8-1116. Securities intermediary as purchaser for value
Part 1: SHORT TITLE AND GENERAL MATTERS
8-1116. Securities intermediary as purchaser for value
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. [1997, c. 429, Pt. B, 2 (NEW).]
SECTION HISTORY
1997, c. 429, B2 (NEW).
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