Mass. Gen. Laws ch. 106 § 8-116

Current through Chapter 223 of the 2024 Legislative Session

Section 106:8-116 - 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.

Mass. Gen. Laws ch. 106, § 8-116