Sec. 45.08.116. Securities intermediary as purchaser for value.
89 words·~1 min read·
/ak/title-45/chapter-8/45-08-116·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 45.08.116. 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.
Article 2. Issue — Issuer.