13 Pa. C.S. § 8116

Current through 2024 legislation effective May 8, 2024

Section 8116 - 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.

13 Pa.C.S. § 8116

1996, May 22, P.L. 248, No. 44, § 8, effective in 180 days.