Cal. Commercial Code § 8116
Cal. Commercial Code § 8116
California · California Commercial Code · Status: effective · Effective 1997-01-01
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- Citation
- Cal. Commercial Code § 8116, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/790564
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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.