30-8-126. Securities intermediary as purchaser for value, MCA

Montana Code Annotated 2017

TITLE 30. TRADE AND COMMERCE

CHAPTER 8. UNIFORM COMMERCIAL CODE INVESTMENT SECURITIES

Part 1. Short Title and General Matters

Securities Intermediary As Purchaser For Value

30-8-126. 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.

History: En. Sec. 36, Ch. 536, L. 1997.