P.R. Laws tit. 19, § 1716
2019-02-20 00:00:00+00
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 —Aug. 17, 1995, No. 208, added as § 8-116 on Sept. 19, 1996, No. 241, § 12.