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Can you summarize MNST 336.8-116?
UNIFORM COMMERCIAL CODE > SECURITIES INTERMEDIARY AS PURCHASER FOR VALUE.
Short Summary
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: 1995 c 194 art 1 s 16
Jurisdiction
Minnesota