2017 New Jersey Revised Statutes
TITLE 12A - COMMERCIAL TRANSACTIONS
Section 12A:8-116 - Securities Intermediary as Purchaser for Value.

12A:8-116. 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.

L.1997,c.252,s.1.

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