Tex. Bus. & Com. Code § 8.116
Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
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.
Tex. Bus. and Comm. Code § 8.116