Sec. 42a-8-116. Securities intermediary as purchaser. - Connecticut Statutes

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Statutes > Connecticut > Title42a > Art008 > Sec42a-8-116

Sec. 42a-8-116. Securities intermediary as purchaser. 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.

(P.A. 97-182, S. 16.)

State Codes and Statutes

Statutes > Connecticut > Title42a > Art008 > Sec42a-8-116

Sec. 42a-8-116. Securities intermediary as purchaser. 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.

(P.A. 97-182, S. 16.)

State Codes and Statutes

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State Codes and Statutes

Statutes > Connecticut > Title42a > Art008 > Sec42a-8-116

Sec. 42a-8-116. Securities intermediary as purchaser. 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.

(P.A. 97-182, S. 16.)