Ky. Rev. Stat. § 355.8-116
Current through 2024 Ky. Acts ch. 225
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.
KRS 355.8-116
Created 1996, Ky. Acts ch. 130, sec. 129, effective1/1/1997.