Title 70A - Uniform Commercial Code - Chapter 8 - Uniform Commercial Code - Investment Securities - Part 1 - Short Title and General Matters - Section 115 - Securities intermediary as purchaser for value.

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Utah Code

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70A-8-115 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.

Enacted by Chapter 204, 1996 General Session