408.116 Securities intermediary as purchaser for value.
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/wi/chapter-408/408-116-7A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
408.116 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.
SUBCHAPTER II
ISSUE AND ISSUER