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2012 Statute



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84-8-116.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.

History: L. 1996, ch. 202, § 43; July 1.



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2014. Powered by KLISS. Rendered: 2014-11-27T08:12:34. Head Rev No: 351364