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.
(Code 1981, §11-8-116, enacted by Ga. L. 1998, p. 1323, § 1.)
RESEARCH REFERENCES
U.L.A.
- Uniform Commercial Code (U.L.A.) § 8-116.
PART 2 ISSUE AND ISSUER