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2022 Florida Statutes (including 2022C, 2022D, 2022A, and 2023B)
SECTION 1161
Securities intermediary as purchaser for value.
Securities intermediary as purchaser for value.
678.1161 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.—s. 1, ch. 98-11.