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2022 Iowa Code
Title XIII - COMMERCE
Chapter 554 - UNIFORM COMMERCIAL CODE
Section 554.8116 - Securities intermediary as purchaser for value.
Universal Citation: IA Code § 554.8116 (2022)
554.8116 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.
96 Acts, ch 1219, §30, 40
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