13 Pa.C.S. § 8116
Securities intermediary as purchaser for value
Pennsylvania · Pennsylvania Consolidated Statutes Title 13 — COMMERCIAL CODE · Status: effective
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- Citation
- 13 Pa.C.S. § 8116, Securities intermediary as purchaser for value, Pennsylvania, version 1 as recorded 2026-09-27, yourstate.us, https://yourstate.us/provision/1380002
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Full text
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.