State Codes and Statutes
Statutes > Maryland > Commercial-law > Title-8 > Subtitle-1 > 8-116§ 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.]
