Section 57A-8-116 - Securities intermediary as purchaser for value. - South-dakota Statutes

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Statutes > South-dakota > Title-57a > Chapter-08 > Statute-57a-8-116

57A-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.

Source: SL 1998, ch 284, § 1.

State Codes and Statutes

Statutes > South-dakota > Title-57a > Chapter-08 > Statute-57a-8-116

57A-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.

Source: SL 1998, ch 284, § 1.

State Codes and Statutes

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State Codes and Statutes

Statutes > South-dakota > Title-57a > Chapter-08 > Statute-57a-8-116

57A-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.

Source: SL 1998, ch 284, § 1.