2009 Rhode Island Code
Title 6A - Uniform Commercial Code
CHAPTER 6A-8 - Investment Securities
§ 6A-8-116 - Securities intermediary as purchaser for value.
SECTION 6A-8-116
§ 6A-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.
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