Go To:
Next Section
Previous Section
Chapter Table of Contents
MGL Search Page
General Court Home
Mass.gov


PART I. ADMINISTRATION OF THE GOVERNMENT

TITLE XV. REGULATION OF TRADE

CHAPTER 106. UNIFORM COMMERCIAL CODE
ARTICLE 8. INVESTMENT SECURITIES

PART 1. SHORT TITLE AND GENERAL MATTERS

Chapter 106: Section 8-116. Securities Intermediary as Purchaser for Value

Section 8-116. 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.