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.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 1 - Uniform Commercial Code
Chapter 8 - Investment Securities
Part 1 - Short Title and General Matters
§ 4-8-104. Acquisition of security or financial asset or interest therein
§ 4-8-105. Notice of adverse claim
§ 4-8-107. Whether indorsement, instruction, or entitlement order is effective
§ 4-8-108. Warranties in direct holding
§ 4-8-109. Warranties in indirect holding
§ 4-8-110. Applicability — Choice of law
§ 4-8-111. Clearing corporation rules
§ 4-8-112. Creditor's legal process
§ 4-8-113. Statute of frauds inapplicable
§ 4-8-114. Evidentiary rules concerning certificated securities
§ 4-8-115. Securities intermediary and others not liable to adverse claimant