Section 8-116 - Securities intermediary as purchaser for value. - Maryland Statutes

§ 8-116. Securities intermediary as purchaser for value.
 

(a)  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. 

(b)  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. 
 

[1996, ch. 92, § 2.]