§ 6A-8-116 - Securities intermediary as purchaser for value. - Rhode Island Statutes

SECTION 6A-8-116

   § 6A-8-116  Securities intermediary aspurchaser for value. – A securities intermediary that receives a financial asset and establishes asecurity entitlement to the financial asset in favor of an entitlement holderis a purchaser for value of the financial asset. A securities intermediary thatacquires a security entitlement to a financial asset from another securitiesintermediary acquires the security entitlement for value if the securitiesintermediary acquiring the security entitlement establishes a securityentitlement to the financial asset in favor of an entitlement holder.