2010 Maryland Code
TITLE 8 - INVESTMENT SECURITIES
Subtitle 1 - Short Title and General Matters
Section 8-116 - Securities intermediary as purchaser for value.
§ 8-116. Securities intermediary as purchaser for value.
(a) 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.
(b) 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.
[1996, ch. 92, § 2.]
Disclaimer: These codes may not be the most recent version. Maryland may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.