Del. Code tit. 6 § 8-116

Current through 2024 Legislative Session Act Chapter 510

Section 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.

6 Del. C. § 8-116

71 Del. Laws, c. 75, § 1.;