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§ 8-116. Securities intermediaries; purchasers for value

West's Annotated Code of MarylandCommercial Law

West's Annotated Code of Maryland
Commercial Law
Title 8. Investment Securities (Refs & Annos)
Subtitle 1. Short Title and General Matters (Refs & Annos)
MD Code, Commercial Law, § 8-116
§ 8-116. Securities intermediaries; purchasers for value
(a) 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.
(b) 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.

Credits

Added by Acts 1996, c. 92, § 2, eff. Oct. 1, 1996.
MD Code, Commercial Law, § 8-116, MD COML § 8-116
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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