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. Code 1981, § 11-8-116 , enacted by Ga. L. 1998, p. 1323, § 1.
Structure Georgia Code
Article 8 - Investment Securities
Part 1 - Short Title and General Matters
§ 11-8-104. Acquisition of Security or Financial Asset or Interest Therein
§ 11-8-105. Notice of Adverse Claim
§ 11-8-107. Whether Indorsement, Instruction, or Entitlement Order Is Effective
§ 11-8-108. Warranties in Direct Holding
§ 11-8-109. Warranties in Indirect Holding
§ 11-8-110. Applicability; Choice of Law
§ 11-8-111. Clearing Corporation Rules
§ 11-8-112. Creditor’s Legal Process
§ 11-8-113. Statute of Frauds Inapplicable
§ 11-8-114. Evidentiary Rules Concerning Certificated Securities
§ 11-8-115. Securities Intermediary and Others Not Liable to Adverse Claimant