Ky. Rev. Stat. § 355.8-116

Current through 2024 Ky. Acts ch. 225
Section 355.8-116 - Securities intermediary as purchaser for value

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.

KRS 355.8-116

Effective:1/1/1997
Created 1996, Ky. Acts ch. 130, sec. 129, effective1/1/1997.